Payoneer’s Post

Unfortunately On 11 Jun 2024 an unknown person logged in in my account and do unauthorized transferred my account. They gave me a Reference Number: 240611-024216. But it’s is 08 August 2024 till get any updated email and solutions. In the meantime I contacted payoneer live chat more than 20 times but always they give me same answers that is this this case is under investigation with a relevant team. I am really Frustrated and disappointed. My account email, password, mobile number were all correct and two step verification also was turn on. Still how can another one transfer my money without any OTP and email notification. If your security is so weak why should we accept your poor service and how can we trust on Payoneer? How do you provide security if someone else takes my money without my permission? Finally with due respect please arrange to refund my money as soon as possible through proper investigation. Najmul Huda

Did you catch Capstone's #fintech insights featured in TechCrunch? M&A activity among #financialtechnology companies remained steady through early 2024—supported by elevated acquirer and investor appetite in #B2B and B2C end markets—and we're excited to see the trend highlighted in this latest transaction from Payoneer. #mergersandacquisitions

Very excited to have our insights featured in this piece by TechCrunch! We are seeing a pickup in overall M&A and financing activity in the payments sector, as evidenced by this announcement by Payoneer. #fintech #financialtechnology #mergersandacquisitions #payments

Fintech Payoneer is buying 5-year-old global payroll startup Skuad for $61M in cash #Payoneer, a leading New York-based #fintech company, has announced the acquisition of Skuad, a Singapore-based global HR and payroll startup, for $61 million in cash. This transaction could potentially rise to around $81 million if Skuad meets specific performance targets within the first 18 months post-acquisition, along with $10 million in restricted stock units contingent on the continued employment of key personnel. Skuad, founded in 2019 by Sundeep Sahi, aimed to simplify international hiring and has been instrumental in helping small-to-medium-sized employers in over 160 countries manage diverse regulatory environments, international payrolls, and remote onboarding processes. Prior to this acquisition, Skuad had raised approximately $19 million in venture funding from investors including BEENEXT, Anthemis Group, NMVM, Argor Capital Management, and various angel investors. Payoneer, which provides cross-border payment services to about 2 million businesses in over 190 countries, sees this acquisition as a strategic move to enhance its services for SMBs operating internationally. Both companies are focused on supporting small and medium-sized businesses in emerging markets, a segment that larger payroll management startups like Deel and Rippling typically overlook. The acquisition will see all 200 Skuad employees joining Payoneer’s team, expanding Payoneer’s workforce to over 2,150 employees. This integration is expected to bolster Payoneer’s payroll and contract management offerings, aligning with its strategy to capture a share of the $6 trillion B2B market, particularly benefiting sectors such as BPOs in the Philippines, marketing agencies in the UAE, and beauty product exporters in South Korea. Payoneer, which went public via a SPAC merger in 2021, continues its growth trajectory with this acquisition. The company reported record revenue of $240 million and adjusted EBITDA of $73 million for the second quarter, highlighting its robust financial health and strategic expansion efforts. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

Fintech News 🚨: Fintech Payoneer is buying 5-year-old global payroll startup Skuad for $61M in cash New York-based fintech Payoneer has acquired Skuad, a Singapore-based global HR and payroll startup, for $61 million in cash, the company exclusively told TechCrunch. Payoneer said it could also pay up to another $10 million, contingent on if Skuad meets various performance goals within the first 18 months of the acquisition. Payoneer also committed to grant $10 million in restricted stock units which are subject to vesting contingent on continued employment of key personnel. So all told, Payoneer could pay as much as around $81 million. That’s a fairly fast exit for Skuad founder Sundeep Sahi, who launched the company in 2019 with the aim of simplifying international hiring. The company’s focus has since been on helping small-to-medium-sized employers in over 160 countries (with over 100 currencies) deal with issues that make building distributed teams challenging, like variations in regulations from market to market, international payrolls and remote onboarding.  It had raised about $19 million in venture funding from investors such as Beenext, Anthemis, NMVM, Argor Capital and several angel investors prior to getting acquired. Payoneer is a provider of cross-border payment services to about 2 million businesses in over 190 countries and territories. It has a market cap of nearly $2.5 billion. Both Payoneer and Skuad are geared toward SMBs that operate internationally, particularly in emerging markets, while other larger payroll management startups such as Deel and Rippling “tend to focus on larger companies and enterprises,” Payoneer CEO John Caplan said. Payoneer has more than 2,150 employees. Skuad has about 200 employees, all of whom are joining Payoneer as part of the acquisition, according to Caplan. He declined to reveal financials for Skuad, saying only it had a “high growth recurring revenue model.” For its part, Payoneer also announced Wednesday record revenue of $240 million, up 16% year-over-year. Subscribe for more news https://lnkd.in/d94JgWBU Source Techrunch #fintech #payments #acquisition

Why Y Combinator companies are flocking to banking and HR startup Every The all-in-one HR startup, dubbed Every, is either brilliant or crazy. Crazy because multi-module HR software that does payroll, onboarding, and spend management for small businesses is already a jam-packed market. Competitors include unicorn startups Gusto, Rippling, and Deel; incumbents that are strong in one area and are expanding into others like Mercury and Brex; and many smaller startups like Finally, Paylocity, and AccountsIQ. Behera’s unique — and possibly brilliant — game plan revolves around his target customers and what he’s offering to hook them. He and his co-founder, Barry Peterson, aimed Every at very early-stage tech startups and will help them do their incorporation documents for free, then set them up with a business bank account as well as other back-office essentials. Every makes its money by charging monthly SaaS fees for other modules, like accounting, and interchange fees. “We spent all this time building pretty advanced expense management, banking, payroll, all that stuff. Now we will release incorporation for founders, and we’re going to just give it away for free,” Behera said. After a 30-minute, white-glove onboarding session, startups get an integrated suite of banking, payroll, HR onboarding, HR benefits, bookkeeping, taxes, state compliance, and so on. (As we recently reported, the state compliance stuff is particularly tricky for startups.) Every’s customers also get a Slack channel where they can commiserate with other founders. His customers “don’t even look at” competitors like Rippling once they do the incorporation, he says, because they will already have a bank account with Every and can easily add other modules. “So that’s our strategy,” he said. https://lnkd.in/eu3YqFpE

🚀 In today’s fast-evolving fintech landscape, being the essential operating system for your customers means going beyond the basics. Embedding payroll into your platform isn’t just a feature—it’s a strategic advantage. Our latest article explores the key considerations you need to address before taking this step. If you’re leading a startup or building in the #fintech space, this is a must-read. #embeddedfinance #embeddedpayroll #payroll #verticalSaaS #startup 🔗 https://lnkd.in/eAsiushY

In a world where the gig economy is growing rapidly, getting the payment process right is crucial. 💼💰 Meet Blockroll, an innovative blockchain-based solution that's helping businesses streamline their payroll processes. Founded by Emmanuel Nwaka, Sadiq Isiaka and Stephen Adeyemo, Blockroll is making a massive impact. 🚀💯 The startup ensures gig workers across the globe can receive payments smoothly and provides a fantastic platform for talent across Africa. It's compelling how it has managed to redefine not only payments but also the talent pool accessibility landscape. 💡🌍 Check out the full article to understand how a simple payroll solution can completely revolutionize the global gig economy payments system! 📖⬇️ https://lnkd.in/gWhEAuh2 Blockroll has undoubtedly raised the bar – is this the future of the gig economy? Share your thoughts! 💭 #Fintech #GigEconomy #Innovation #Entrepreneurship #Startups #GlobalEconomy #Blockroll

Payoneer Acquires HR and Payroll Startup Skuad for $61 Million in Strategic Fintech Move Payoneer, a significant player in New York, has just made a bold move by acquiring Skuad, a smaller HR and payroll startup from Singapore, for a whopping $61 million. In addition to this initial amount, there's potential for an extra $10 million payout if Skuad meets set targets over the next 18 months. Payoneer also sweetened the deal with $10 million in stock for key Skuad personnel, pushing the total potential value of the acquisition to $81 million. Skuad, founded by Sundeep Sahi in 2019, provides support to small and medium businesses in over 160 countries, helping them navigate complex international HR matters. Prior to this sale, the startup had managed to secure approximately $19 million from investors, indicating a solid foundation. On the other hand, Payoneer, with its extensive reach spanning over 190 countries, specializes in facilitating cross-border payments for businesses. Notably, the company has steered its focus towards catering to the needs of small and medium enterprises, distinguishing itself from larger payroll corporations. With a workforce exceeding 2,150 employees, Payoneer recently announced a record-breaking revenue of $240 million in the last quarter, reaffirming its strong performance in the industry. This acquisition aligns with the broader trend in the fintech sector, where numerous startups are merging due to a slowdown in venture capital funding. Payoneer has been notably proactive in this landscape, having previously acquired an AI data startup and a payments company operating in China. # Thank you Elena Kovačić for your submission!

Payroll Startup Cercli Secures $4M For MENA Expansion In the fast-paced world of tech startups, discovering a billion-dollar opportunity is the stuff of dreams. That dream became a reality for Akeed Azmi and David Reche when they identified a critical gap in payroll management across the Middle East and North Africa (MENA) region. While scaling teams at unicorns like Careem and Kitopi, the duo noticed that even the biggest players grappled with payroll inefficiencies and compliance challenges. Determined to solve this widespread issue, they launched Cercli (YC S23) in January—a startup poised to revolutionize payroll and workforce management in MENA. Cercli’s software platform empowers businesses across the region to hire, manage, and pay their global workforce with unprecedented ease. The concept struck a chord with investors, leading to a $4 million seed funding round led by San Francisco’s Afore Capital, marking the fund’s first investment in the MENA region. Afore Capital’s managing partner, Anamitra Banerji, praised Cercli’s vision, emphasizing that the startup addresses one of the region’s most pressing challenges: managing a global workforce while ensuring compliance with complex regulations. #PayrollTech #MENAStartups #TechFunding #GlobalWorkforce https://lnkd.in/eXw6CUCU