Symmetrical secures £14.7m Series A funding led by Target Global to accelerate expansion
The Series A round was led by Target Global to fuel international expansion and team growth.
Symmetrical provides headless payroll technology designed to automate and simplify global payroll operations through an API-first approach. The company enables firms to manage international workforces and scale efficiently.
Symmetrical has secured £14.7m in a Series A funding round led by Target Global, with participation from Global Founders Capital, Finch Capital, Partech, Market One Capital and Inovo. The capital will be deployed to accelerate the company expansion across European and US markets, scale the team, target enterprise clients, and enhance its API technology.
The business has experienced significant growth, multiplying revenues by 23 times over the preceding nine months while serving dozens of customers across the UK, Spain and Poland.
From the founder
"Our bold ambition is to make payroll invisible. We believe that 10 years from now, 'payroll software' will be eliminated from the dictionaries. Invisible payroll will be a crucial element across broader platforms and thanks to our vision, we will be at the forefront of this new trend. We are also extremely pleased to have investors like Target Global join us in carrying out this vision and helping us shape the future of payroll together."
Piotr Smolen
CEO and co-founder at Symmetrical
Investor perspective
"Over the past few years we have witnessed a radical change in the employer-employee relationship – from gig workers becoming the dominant workforce across many sectors, to employees expecting to be able to work remotely across the globe. This has led to companies having to rethink their payroll operations, traditionally outsourced to old-school companies with rigid processes and poor integration amidst a growing ecosystem of HR tools. This is why we are excited to back Symmetrical, a pioneer in payroll solutions that is purpose-built for managing complex people organizations. We see Symmetrical's seamless API-first payroll technology as the new standard in the industry and very pleased to welcome Piotr and Daniel and the whole Symmetrical team to the Target family."
Ben Kaminski
Partner, Target Global
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Invest in sales and marketing
- 04Continue product development
Investors
Categories
About the company
Symmetrical
Headless payroll technology provider for global workforce automation.