Wrkr raises A$12M to fund payroll integrations with Workday and SAP
What's the deal? WrkrDealroom has a profile for this one. Try Dealroom → (ASX: WRK), an Australian SaaS workforce management platform, has raised A$12 million in post-IPO equity. The company completed a A$10 million placement of 133.3 million shares at A$0.075 each and is offering shareholders a further A$2 million through a share purchase plan.
What's the endgame? The capital will fund customer onboarding and new payroll integrations, including with Workday and SAP. Wrkr also plans product innovation across its PaidRight SaaS and PAY product lines.
Why now? The raise is designed to provide working capital as Wrkr pushes towards positive free cash flow. Adding integrations with two of the largest enterprise software providers positions it to court bigger customers.
The signal: Small-cap SaaS firms are still tapping public markets to bankroll growth rather than waiting to turn a profit. For Wrkr, betting on enterprise payroll integrations is a bid to move upmarket and shore up recurring revenue.
Read more: Kalkine Media
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