Salarium
| Company type | Private |
|---|---|
| Industry | Software, Financial services |
| Founded | 2013 |
| Founder | Judah Hirsch |
| Headquarters | Hong Kong , Hong Kong |
Area served | Philippines, Hong Kong |
| Products | Payroll automation software, SALPay e-wallet service |
Salarium is a comprehensive SaaS provider specializing in payroll automation, established by Judah Hirsch in 2013. The company’s main office is located in Hong Kong, with an additional branch operating out of Manila, Philippines.
History
In February 2014, Salarium achieved first place in a global competition held in Geneva, earning a $500,000 equity investment from Seedstars World (SSW). The firm operated on a bootstrapped basis until later that year when it secured its initial funding round after winning the second Seedstars World startup contest.
By March 2015, Salarium had formed a collaboration with VMoney Inc. to incorporate VMoney’s funds disbursement system into its payroll automation platform. The next month, the company allied with PyxPay, a mobile payment enterprise, to introduce SALPay, a service facilitating international employee payments through an e-wallet.
In December 2017, SALPay further enhanced its digital payment capabilities by integrating the EON platform from Union Bank of the Philippines into its application.
Salarium broadened its presence across the Philippines in 2019, initiating services in Davao City, Mindanao, and subsequently in Cebu City, Cebu. That August, it launched version 3.0 of its payroll software aiming to attract a wider customer base.
On 31 December 2023, Salarium ceased operations indefinitely following a disruption on 18 December that led to numerous customer complaints regarding inaccessible funds and sparked concerns about possible financial mismanagement impacting businesses and employees dependent on its payroll services.