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Will remain focused on Malaysia until at least early 2019 Target 20,000 paying customers in Malaysia in five years     PAYROLLPANDA, a HR and payroll SaaS targeted at MalaysianSMEs has closed a further US$700,000 (RM2.8 million) in seed funding. Most of the investment came from two family offices based in

the UK and Saudi Arabia. PayrollPanda’s wider plans are to launch in other markets regionally but it will remain focused on Malaysia until at least early 2019. PayrollPanda co-founder & CEO Toine Vaessen, commented “I am confident we will achieve our target of 20,000 paying customers in Malaysia in five years.

We want to first make sure we nail Malaysia, to hammer home our existing lead in the space here, before we look elsewhere. “It’s great to see Malaysian SMEs embrace cloud technology. Apart from saving time and ensuring statutory compliance we make payroll simple. The new funding allows us to further

enhance the product and focus on HR automation from onboarding, to time & attendance, claims and more. “We are looking to double our current team, half of whom work remotely and outside Malaysia, to around 40 by the end of this year.” PayrollPanda came out Malaysia-based venture builder, LaunchPad. LaunchPad CEO