Westport-based start-up company Payslip, which is led by former Taxback chief executive Fidelma McGuirk, has secured €1 million in investment.
The Irish Times reports that the founding round was led by AIB and early-stage venture capital firm Frontline Ventures. Other backers including Tribal, Hban Bloom Equity and Enterprise Ireland.
Headquartered in Westport, Payslip provides software that simplifies and reduces the costs of managing a global payroll for businesses with employees in multiple jurisdictions.
Its cloud-based software-as-a-service (SaaS) platform includes functions that enable clients to meet General Data Protection Regulations, which come into effect in May.
Payslip said it intended to use the funds for expansion purposes, which included taking on 12 new staff this year.
Ms McGuirk said the company had already begun hiring for a number of roles, including chief technology officer, international payroll, operations and sales roles. Other planned hires include software engineers and integration specialists.