Kora Merchant Stories is a roll call of award-winning businesses creating transformative solutions for the web across Africa and the world. These stories inspire us. We hope they inspire you too. This is the first in the series.
Biodun Atobatele and James Olorunosebi had been and succeeded in the information technology, real estate, and financial services industries for over 14 years when they paused to ask themselves the ultimate question:
“What is bigger than making money?”
The answer came to them after many brainstorming sessions. They eventually realised that their answer to this question was “Leaving a legacy”. “For us, leaving a legacy was more important than making money. And that’s what we decided to attempt to do,” says Biodun Atobatele.
“The first thing we remembered was that the most impactful technologies in the world are free — think Google. So we decided to pick an industry and create a software solution for problems in that industry that would cost nothing but be world-class. A software from Nigeria to Africa, to the world. Free forever.”
What is now known as MyXalary started as a way to manage employee databases, taxes, and pensions. When that became stable, the cofounders began advancing the software by adding features.
“By the end of 2022, we had launched ten new modules,” says Olurunosebi. “We’re committed to continuous improvement. Our platform’s simplicity has caused us to grow from a company that helped small businesses to one that works with large enterprises.”
Both founders are proud of their company’s most significant global impact, becoming the most prominent human resource management system (HRMS) to originate from Africa.
There’s also the fact that they don’t sell MyXalary. “Seeing the company save businesses billions of dollars brings us much joy,” says Atobatele
As MyXalary’s customers grew, so did the company’s need for a robust and efficient payment gateway they could use to power their wallet services — a feature that’s part of their payroll and non-payroll payment functions. “After research, we discovered Kora and learned how it had gained a reputation as the best payment gateway in Africa by investing significantly in its capabilities.”
They decided to sign on to Kora.
“It’s been a perfect pairing” — Biodun Atobatele.
“Kora’s balance and functionality have enabled the ease of inflow and outflow of funds into MyXalary’s balance. It also lets us view and track transactions from the backend, an important feature for our backend users who need to see their transactions to their employees and vendors.”
Atobatele adds, “If I had to describe our experience so far using Kora, I would say ‘Enablers’. This is because that’s what they do. They enable businesses to grow, as they’ve enabled us to scale beyond what we thought possible.”
At Kora, our goal is to connect Africa to the world and connect the world to Africa via payments. For startups and businesses working in Africa, we provide All The Support You Need ™️ to start, scale and thrive on the continent. Visit www.korahq.com to see all the ways you can thrive with Kora.