Cercli Raises $4 Million To Streamline Workforce Management In MENA

Cercli, a unified platform for MENA businesses to hire, manage, and pay their global workforce, has secured $4 million in seed funding. This round was led by Afore Capital, marking its first investment in the MENA region from its $150 million fund III.

Since its launch earlier in 2024, Cercli has experienced a 25% monthly growth rate. The company has processed over $23 million in salaries for employees across 31 countries. This rapid expansion highlights the platform's effectiveness and growing demand.

The seed round saw participation from COTU Ventures, Y Combinator, and Rebel Fund. Notable individual investors included Karim Atiyeh of Ramp, Sebastian Mejia of Rappi, Tony Dong of Rippling, Tony Jamous of Oyster, and Allison Pickens. Founders and executives from Kitopi, Careem, and other MENA startups also contributed.

Akeed Azmi and David Reche founded Cercli after recognising the need for a comprehensive workforce management solution. Their experience at Kitopi and Careem highlighted the challenges of managing international teams during periods of rapid growth.

Cercli's platform integrates HR, Finance, Accounting, Legal, and IT software. This integration allows customers to use Cercli as their primary source of truth while ensuring compliance with market-specific regulations.

Enterprises in the region have struggled with fragmented legacy software and spreadsheets for individual tasks. These outdated methods lead to fraud, data privacy issues, payroll errors, delays, and other problems. Cercli aims to solve these issues by uniting all back-office functions into one platform.

"At Cercli, Akeed and David are building to solve one of the region's largest challenges - managing a global workforce while meeting compliance requirements," said Anamitra Banerji of Afore Capital. "This investment reflects our recognition of the massive untapped potential in the MENA region."

"Across the Middle East, technology-powered startups are at the heart of enabling economic transformation," said Amir Farha of COTU Ventures. "With businesses building diverse global teams, the need for a solution like Cercli is imperative."

Cercli's founders have recruited highly skilled engineers from global technology enterprises such as Microsoft, ADP, and Accenture. The company's focus on product and engineering is evident as 80% of its team is dedicated to these areas.

"As we unite various complex layers of workforce management in MENA," said David Reche. "Technology and talent lie at the core of our ability to build a powerful yet simplified product."

The company plans to double down on growth with backing from new investors while attracting world-class talent to accelerate adoption across the regional economy.

Cercli's mission is clear: transform how businesses manage their workforce through a single platform. With a $2 billion market opportunity in MENA for payroll alone and burdensome compliance costs due to human error, Cercli aims to be a game-changer in this space.