The payroll-as-a-service and HR software supplier Veda, situated in Alsdorf, Germany, has raised €17 million in funding.
Investors
- CIBC Innovation Banking
Use of funds
The company plans to develop its buy-and-build strategy, giving payroll software companies and payroll services priority, as well as increase its market share in the DACH (Germany, Austria, and Switzerland) region and other international markets like Benelux, the UK, and the Nordics.
About Veda
Under the direction of CEO Dr. Ralf Gräßler, Veda offers an HR software platform with solutions for hiring, onboarding, people management, talent management, payroll, workforce scheduling, and time & security to a wide range of mid-market businesses. Serving 1,200 clients, the business employs about 170 people.
