About Onfolk
Onfolk is a company based in London (United Kingdom) founded in 2021 by Charlie Thomas and Naz Malik was acquired by Tide in October 2024.. Onfolk has raised $125 thousand across 2 funding rounds from investors including Tide, Y Combinator and ACE & Company. The company has 2 employees as of July 31, 2021. Onfolk offers products and services including Payroll Software and HR Tools. Onfolk operates in a competitive market with competitors including Gusto, ADP, Paycor, Paychex and TriNet, among others.
- Headquarter London, United Kingdom
- Employees 2 as on 31 Jul, 2021
- Founders Charlie Thomas, Naz Malik
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Sectors
Technology
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Phone
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Website
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Social
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- Legal Name Onfolk Limited
- Date of Incorporation 16 Jul, 2020
- Jurisdiction LONDON, UNITED KINGDOM
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Products & Services of Onfolk
Onfolk offers a comprehensive portfolio of products and services, including Payroll Software and HR Tools. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates UK payroll processing and tax handling for businesses
Manages employee data and time-off tracking efficiently
Funding Insights of Onfolk
Onfolk has successfully raised a total of $125K across 2 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Last Round
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First Round
First Round
(01 Sep 2021)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Sep, 2021 | Amount | Seed - Onfolk | Valuation |
investors |
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| Sep, 2021 | Amount | Seed - Onfolk | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Onfolk
Onfolk has secured backing from 4 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Tide, Y Combinator and ACE & Company. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location | |
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Multiple sectors are invested in by the private equity firm.
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Founded Year | Domain | Location | |
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Tide is recognized as a digital banking platform for businesses.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Onfolk
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Onfolk
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Onfolk Comparisons
Competitors of Onfolk
Onfolk operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Gusto, ADP, Paycor, Paychex and TriNet, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based HR and payroll solutions are offered for small businesses.
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| domain | founded_year | HQ Location |
Cloud-based HR management solutions are offered for payroll and compliance.
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| domain | founded_year | HQ Location |
Cloud-based HRMS platform is provided for small and medium-sized businesses.
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| domain | founded_year | HQ Location |
Cloud-based HRMS solutions are delivered for payroll and employee management.
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| domain | founded_year | HQ Location |
Cloud-based HRMS platform is offered for small and medium businesses.
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| domain | founded_year | HQ Location |
Cloud-based HRMS platform is offered for small and medium-sized businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Onfolk
When was Onfolk founded?
Onfolk was founded in 2021.
Where is Onfolk located?
Onfolk is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Is Onfolk a funded company?
Onfolk is a funded company, having raised a total of $125K across 2 funding rounds to date. The company's 1st funding round was a Seed of $125K, raised on Sep 01, 2021.
How many employees does Onfolk have?
As of Jul 31, 2021, the latest employee count at Onfolk is 2.
What does Onfolk do?
Onfolk was founded in 2021 in London, United Kingdom, as a SaaS platform in the HR technology sector. Core operations focus on enterprise-level solutions for payroll processing, time tracking, pension and benefits administration, and employee onboarding. Integration with Xero and Nest is supported to enhance functionality. Revenue is generated through a subscription-based pricing model.
What products or services does Onfolk offer?
Onfolk offers Payroll Software and HR Tools.
Who are Onfolk's investors?
Onfolk has 4 investors. Key investors include Tide, Y Combinator, ACE & Company, and Will Neale.