Funding Milestone and Investor Backing

Dubai‑based Cercli announced an oversubscribed $12 million Series A financing round. The round was led by Picus Capital, a European venture firm that has previously backed global HR companies such as Personio, Multiplier, and Deel. Existing investors—including Y Combinator, Afore Capital, and COTU Ventures—also participated, along with Knollwood Investment Advisory.

Founders and Vision

Cercli was founded by former Careem operators Akeed Azmi and David Reche. Drawing on their experience at Careem and Kitopi, the duo identified a gap in the MENA market: fragmented enterprise systems, outdated compliance tools, and HR software that rarely integrates with finance. Their response was to build a unified, AI‑first platform that consolidates human‑resources management, payroll, and compliance for companies operating across the region.

Product Differentiation

The company describes its solution as an “AI‑native Rippling for MENA.” Over the past year, Cercli rewrote its payroll engine to be multi‑country and agent‑compatible, allowing rapid scaling across diverse jurisdictions. AI is embedded throughout the stack, from recruiting modules that surface candidate lists to internal treasury and reconciliation agents that manage the startup’s own finances. This architecture enables onboarding in two to three days, a stark contrast to the months‑long setups typical of legacy systems.

Growth Metrics

Cercli reports more than tenfold revenue growth since its seed round and now processes over $100 million in payroll annually for businesses across 50 countries. The 14‑person team achieved a 21 percent month‑to‑month revenue growth rate while expanding its client base, which includes Vision Bank, the Global Climate Finance Centre, Huspy, Lean Technologies, and Ziina.

Market Opportunity and Future Plans

The startup aims to capture a larger share of the estimated $5.8 billion HR‑software opportunity in the MENA region. With the new capital, Cercli plans to develop additional AI‑native products and deepen its market penetration. Picus Capital’s founding partner expressed confidence that Cercli’s model, proven globally within the investor’s portfolio, will continue to grow through new customers and product launches.

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