Payboy

What Payboy does

Payboy is a Singapore-based cloud HRMS (Human Resource Management System) provider founded in 2016, targeting small and medium enterprises that lack dedicated HR functions. Its modular SaaS platform spans Payroll Processing, Leaves Management, Claims Management, Time & Attendance, Shift Scheduling, Applicant Tracking, Appraisal, Inventory Management, Project Costing, Training Management, and Benefits — with Payroll as the central hub. The system automates Singapore-specific statutory workflows including CPF contributions, IR8A submissions via the IRAS Auto-Inclusion Scheme, and MOM compliance, and integrates natively with Xero, QuickBooks, Financio, and major local banks (DBS, OCBC, UOB, Maybank) for accounting sync and GIRO payroll disbursement. A complementary product, PayBeyond (powered by Rapyd), extends the platform into local and global payment disbursement for international payroll and contractor use cases.

The company monetizes via monthly SaaS subscriptions priced from $3 per employee, a usage-based 'Pay Per Use' plan, and a low-cost Startup Package for teams of up to 10 employees. Distribution combines self-serve product-led onboarding (free trial at payboy.biz) with inside-sales demo support and government channel partnerships: Payboy is a PSG-approved HRMS vendor (enabling 50-70% subsidies), an NCSS-registered partner (up to 80% funding for NGOs), and a Digi-TAC distribution partner (up to 70% funding). Customer evidence spans F&B (Subway @ Vivocity), hospitality (Furama Hotels International, 400+ employees), consulting, accounting, training, and manufacturing SMEs.

Operationally, Payboy is a privately held, founder-operated company with no disclosed external funding, M&A, or institutional investors. Leadership consists of CEO Nigel Lim. The company holds ISO, SAC, and Data Protection Trustmark certifications, is headquartered at 114 Lavender Street, Singapore, and runs a content-marketing-driven acquisition engine built around SEO-optimized HR compliance guides and free CPF calculators for Singapore citizens and PRs.

Name

Payboy

Legal name

Payboy

Website

https://payboy.sg

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Payboy is a Singapore-based cloud HRMS SaaS provider founded in 2016, serving SMEs with modular payroll, leave, attendance, and compliance automation integrated with local banks, accounting software, and CPF/IRAS/MOM statutory systems.

Ownership category

akta.pro rank

Product category

HRMS / Payroll Software

NAICS

Payroll Services (541214)

SIC

Services-Prepackaged Software (7372)

akta.pro industry

PRIMARYFSAMAKAA

Employer Payroll Processing (SMB & Enterprise)

Financial & Insurance/Payments & Transaction Processing/Payroll & Payouts / Disbursements

Keywords

• HRMS software
• Payroll software
• Leave management
• Employee management
• Attendance tracking

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. SaaS Subscription (Per Employee): Monthly subscription model charging based on number of employees. From $3 per employee for premium features. Includes modular access to payroll, leave, claims, attendance, and other HR modules.
2. Pay Per Use: Monthly subscription plan that charges based on service usage rather than flat per-employee pricing.
3. Startup Package: Special package for teams of up to 10 employees at a lower cost point, designed for early-stage companies.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Payboy is a cloud-based HRMS (Human Resource Management System) platform that automates payroll processing, statutory compliance (CPF, IRAS IR8A/AIS, MOM), and modular HR workflows for Singapore-based businesses. Its core product is a Payroll Processing module integrated with Leaves Management, Claims, Time & Attendance, Shift Scheduling, Applicant Tracking, Appraisal, Inventory, Project Costing, Training Management, Benefits, and a Rapyd-powered PayBeyond payment module. The platform integrates with Singapore banks (DBS, OCBC, UOB, Maybank), accounting software (Xero, QuickBooks, Financio), CPF Board, and IRAS, and is sold via subscription starting from $3 per employee per month with PSG and NCSS grant eligibility.

Product overview

Payboy is a modular HRMS (Human Resource Management System) platform for Singapore SMEs offering a core Payroll Processing module as the central hub, integrated with Leaves Management, Claims Management, Time & Attendance, and Shift Scheduling modules. Additional add-on modules include Applicant Tracking, Appraisal System, Inventory Management, Project Costing, Training Management, Benefits, and PayBeyond for global payments. The platform automates payroll calculations, CPF submissions, IR8A filings, and statutory compliance while integrating with accounting software (Xero, QuickBooks, Financio), banks (DBS, UOB, OCBC, Maybank), CPF Board, and IRAS. Payboy is available via subscription plans including Pay Per Use, PSG Grant eligible packages, and Startup packages, with support for NCSS NGO funding.

Differentiator

Problem solved

Functional benefit

Products and services

• Payroll Processing Module Core HRMS module that automates salary calculations, CPF contributions, IR8A submissions, and statutory compliance for full-time, part-time, freelance, and contract workers in Singapore.
• Leaves Management Module Digital leave management system allowing employees to apply for leave, check balances, and enabling employers to approve and manage leave requests with automatic sync to payroll.
• Claims Management Module Claims processing system allowing set claim policies for different roles with easy approval workflows and digital submission of supporting documents.
• Time & Attendance Module Mobile-based time tracking system enabling employees to check in and out from anywhere, with attendance data seamlessly integrated into payroll calculations.
• Shift Scheduling Module Drag-and-drop shift scheduling tool to allocate staff based on availability, automatically updating employee availability in payroll calculations.
• Applicant Tracking Module Recruitment management system consolidating job applications from various portals into one platform with customizable forms and stored applicant details for future hiring needs.
• Appraisal System Module Performance review and feedback system with customizable forms, 360-degree feedback routes, grading system, and cloud-based storage of historical appraisals.
• PayBeyond (powered by Rapyd) Payment solution enabling businesses to make local and global payments through a single integrated platform for international payroll and contractor payouts.

Quantifiable outcome

• Save up to 70% on HR software costs with PSG Grant and Digi-TAC funding
• +2 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature6 records

Partnerships

13 partnerships are on record, tiered core and minor.

• XerocoreTechnology or IntegrationAccounting software integration. Payboy generates accounting entries and syncs payroll data with Xero for seamless financial management.
• QuickbookscoreTechnology or IntegrationAccounting software integration. Payboy synchronizes payroll data with QuickBooks Online for accounting workflows.
• FinanciocoreTechnology or IntegrationAccounting software integration. Payboy integrates with Financio for payroll-accounting synchronization.
• The Growth ProjectminorStrategic or Co-development PartnerJoint payroll services launch. The Growth Project offers payroll services powered by Payboy technology, available from June 2024.
• Digi-TACcoreGTM or Marketing PartnerDigital Technology Advisory Centre. TACs can adopt Payboy with up to 70% funding support through this partnership channel.
• National Council of Social Service (NCSS)coreGTM or Marketing PartnerNGO funding partnership. Registered NCSS charities can access up to 80% funding support for Payboy HR software subscription.
• DBScoreTechnology or IntegrationBank compatibility for GIRO bank file generation. Payboy generates bank files compatible with DBS systems for payroll disbursement.
• OCBCcoreTechnology or IntegrationBank compatibility for GIRO bank file generation. Payboy generates bank files compatible with OCBC systems for payroll disbursement.
• UOBcoreTechnology or IntegrationBank compatibility for GIRO bank file generation. Payboy generates bank files compatible with UOB systems for payroll disbursement.
• MaybankcoreTechnology or IntegrationBank compatibility for GIRO bank file generation. Payboy generates bank files compatible with Maybank systems for payroll disbursement.
• CPF BoardcoreTechnology or IntegrationCPF e-Submission integration. Payboy automates CPF contribution calculations and submissions to CPF Board on behalf of employers.
• IRAScoreTechnology or IntegrationAuto-Inclusion Scheme integration. Payboy is an IRAS-approved vendor for submitting IR8A forms and tax-related payroll data.
• MOMcoreTechnology or IntegrationMinistry of Manpower compliance. Payboy maintains compliance with MOM regulations for employment law, work passes, and statutory requirements.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Others

• Financio: Singapore cloud accounting software that integrates with Payboy for payroll-to-accounting workflows. Ecosystem participant and complementary product that drives mutual customer overlap and channels leads between the two platforms.

Broad incumbents

• Deel: Global payroll and HR platform targeting distributed teams and SMEs/Mid-market with strong APAC expansion. Although broader and well-funded, increasingly competes with Payboy for Singapore SMEs hiring cross-border contractors and remote workers.
• Gusto: US SMB-focused payroll, HR, and benefits platform. Benchmark for the SME payroll SaaS category and pricing model ($3 per employee per month style pricing) that Payboy's positioning closely mirrors in the Singapore market.
• Ramco Global Payroll: Enterprise HCM/payroll platform with strong APAC presence including Singapore. Comparable in regional payroll compliance depth but serves larger enterprise customers with significantly higher contract values.
• BambooHR: Leading SMB/mid-market HRIS with payroll, hiring, onboarding, and performance management. Established global incumbent whose feature breadth and brand could attract Singapore SMEs graduating from Payboy.
• Kuali: Southeast Asian HR and finance platform (originally Malaysian) with payroll, HR, and grants management modules serving public sector and SMEs. Comparable in regional APAC SME payroll/HR focus but with broader enterprise and public-sector footprint.

Regional players

• PayrollPanda: Malaysia-headquartered payroll and HR SaaS for SMEs (acquired by Hong Leong Group/Dah Sing). Closest regional peer in product scope and SME focus, with parallel compliance-driven payroll automation but operates in Malaysia rather than Singapore.

Direct peers

• Omni HR: Asia-Pacific HRIS platform with payroll and people management modules serving SMEs and mid-market companies across multiple APAC markets. Closest peer offering multi-country payroll as an alternative to Payboy's Singapore-only depth.
• Talenox: Singapore-headquartered HRMS and payroll SaaS provider targeting SMEs with payroll, leave, claims, and attendance modules. Most direct local competitor given overlapping product breadth, Singapore compliance focus, and SME target market.
• BengHR (by SmartHino): Singapore SME-focused HR and payroll platform offering payroll, claims, and leave management. Competes head-to-head with Payboy in the same SME segment with similar pricing models and Singapore compliance positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/payboyHR
• LinkedInlinkedin.com/company/payboy

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Payboy