Runa
Platform for automating payroll in Latin America
The idea was born when Courtney McColgan, founder of Runa, experienced the complexity around people management in Latin America during her previous position as CMO of Cabify. It was difficult for her to obtain key employee information, and ensure her team was being paid on-time and correctly.
Industry:
Banking, Emerging Markets
CEO:
Courtney McColgan
Investor Since:
Series Seed
Visit:
https://runahr.com
We were introduced to Courtney and the Runa team during their time at YCombinator. Courtney’s vision for Runa was born during the complexities she faced around people management during her previous position as CMO of Cabify.
Runa offers a complete cloud-based human resources and payroll software solution that has been designed and built for small to medium-sized companies in Latin America. It serves companies with a range from 1 to as many as 600 employees, across a wide spectrum of tech-savviness and industries.
Today, the vast majority of the 17m small businesses in Latin America typically conduct payroll manually or employ an outsourcing firm to manage the process - and in rare cases, they employ clunky and outdated software. Runa provides a new payroll solution that is user friendly, affordable, and highly efficient. Runa is positioning itself to expand into a broader set of financial services for employees, which includes lending, insurance, and benefits. Runa has also begun expansion outside of Mexico, with an initial strategic focus on Brazil.
“Existing payroll software in Latin America is not built for the SMB. It is extremely difficult to use, requires a lot of manual processing and is very expensive. Our platform allows users to automate everything and do so with a much more pleasant interface and a much more modern technology,”
Courtney McColgan, CEO of Runa
FTC invested in Runa’s Seed round in June 2018.
Current Status: Active