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Nmbr raised $7.6M in seed funding led by Panache Ventures to accelerate growth and product development in the payroll software market.

Sep 24, 202410 months ago

Amount Raised

$7.6 Million

Round Type

seed

TorontoEmployee BenefitsHuman ResourcesEnterprise SoftwareSaasSoftware

Investors

Luge CapitalMotivate Venture CapitalGolden VenturesPanache Ventures

Description

Nmbr has secured CAD $7.6 million in seed funding to simplify the process of building modern payroll products in Canada. The funding will be used to accelerate growth and product development while Nmbr aims to enhance the payroll ecosystem for businesses nationwide.

Company Information

Company

Nmbr

Location

Toronto, Ontario, Canada

About

Nmbr is a dedicated embedded payroll software provider, designed to simplify how businesses build and launch their own payroll software. It simplifies the complexities of building payroll systems by offering APIs and embeddable front-end components that eliminate the challenge of building payroll software, while reducing ongoing administrative burden and costs.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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