The people
What they build
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Working at Wagepoint
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On the TechTO stage
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About
Wagepoint went after the least glamorous software category there is and stayed narrow on purpose. Founder Shrad Rao told the TechTO stage in November 2018 that the team turned down a 3,000-employee prospect because "we would work with three" — small businesses and the accountants who serve them were the whole market. The company talked to roughly a hundred customers before writing a line of code, ran fully remote from the start, and built distribution through accounting and bookkeeping partners. By 2020 it was processing about US$300 million of payroll a month for more than 12,000 small businesses, which is when Providence Strategic Growth bought a majority stake. Rao stepped down in January 2025.
Backers
Providence Strategic Growth (PSG) took a majority stake, announced September 2020. Wagepoint acquired the HR software company KinHR in August 2022.
Quick answers
Who founded Wagepoint?
Shrad Rao, in 2012. He has said he started with $18,000 in the bank and spent a year deciding what business to build before landing on payroll.
Who owns Wagepoint?
Providence Strategic Growth, the growth equity arm of Providence Equity Partners, announced a majority investment in September 2020. Ben Richmond, previously Xero's North America managing director, became president and CEO in January 2025.
Why only small businesses?
Deliberate focus. Rao told TechTO the company turned away enterprise-sized prospects and sold instead through accountants and bookkeepers, which is what he credited for its position.