Socium, which specializes in digital human resources management solutions, is fast becoming THE HR solution of choice for medium-sized companies in French-speaking Africa.
Led by Breega with its dedicated Africa fund, this new round brings together international investors including Partech, Chui Ventures, Orange Digital Ventures, Sonatel, Outlierz Ventures, Super Capital and DNA. A number of renowned African business angels, including Mossadeck Bally (founder of the Azalaï Group), Hassan Bourgi (founder of Djamo) and Babacar Seck (founder of Askya Investment Partners), also participated in this round, a form of support not yet widely available to local start-ups.
Indeed, following an initial capital injection of $1.1 million in August 2022, this new injection of capital testifies to investors’ confidence in Socium’s potential. Serving over 100 customers in nearly 15 different countries, Socium’s localized solutions streamline complex payroll systems and their regulatory compliance, filling a gap in digital solutions for human resources management. With plans to expand into new markets, Socium is ready to lead the “HR-tech” sector in conquering this promising segment in Africa.
Jérémie Swiecznik, partner in the Transactional Division, and Quentin Bechert, associate, advised Breega on this transaction.
Socium was advised by Orrick, Herrington & Sutcliffe LLP.