Founder: Simon Bocca, 2020
Business: Payroll software that uses intelligent automation to allow the entire payroll process to run on auto-pilot.
PayCaptain is the most helpful payroll software on the planet.
Created in 2020 to make the mission critical process of paying people less tedious and cumbersome. Intelligent automation allows the entire payroll process to run on auto-pilot with their own powerful algorithms (aka Florence) who runs in the background to make sure everyone always gets paid properly.
Florence is also directly available for our users via chat functionality in the app. She helps HR and Payroll Managers to administer the system and helps employees to configure their pay preferences and help make tax/pensions/pay less confusing.
Companies using PayCaptain can give their employees the power to take control of their pay, their savings, their retirement savings and their charitable donations. Employees have emergency access to their pay before payday, weekly wage advances to help cover job related costs and flexibility to decide how they receive certain payments like bonuses, commissions and recognition payments.
PayCaptain also created a charity to sit alongside the trading company to enable tax free donations to charities directly from an employee’s pay. This was a complex process and required HMRC approval. They also allow employees to offset their carbon footprint from their gross wages and are set to announce this in December.
PayCaptain is registered with the FCA for handling electronic money – employees can choose to use PayCaptain as their main current account or as a savings account, eliminating the need for a traditional bank account. All payroll payments are sent via Faster Payments instead of BACS and they are fully embracing the latest finance and payment technologies for adding value to companies and their employees.
PayCaptain are a pending Certified B-Corporation and expect to be fully certified by the end of the year.
They are just a team of 8 people today and will be recruiting for many new roles in the new year. The plan is to achieve break even in 2022 – they have big aspirations and hope to become the UK’s favourite way to get paid.
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