# Skuad Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/skuad-pte

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.skuad.io
- Total disclosed funding: $30M
- Latest round: Series A (Feb 14, 2023)
- Investors on record: 7

## About

Skuad Pte. Ltd., based in Singapore, provides a global HR platform that simplifies remote team management, offering services like Employer of Record and Contractor of Record to facilitate seamless hiring and payroll processes worldwide.Founded in 2019 in Singapore, Skuad Pte. Ltd. operates a global HR platform designed for remote workforce management. The company has successfully completed 5 deals, with the most recent deal occurring on August 7, 2024. Skuad was acquired by Payoneer, Inc. for USD 61 mn, integrating its payroll solutions into Payoneer’s offerings. The company’s founders, Rohit Singh and Sundeep Sahi, have a background in technology and business, with Sundeep Sahi serving as the current CEO.Skuad, now known as Payoneer WFM, offers a comprehensive global HR platform for over 160 countries, specializing in Employer of Record and Contractor of Record services. These solutions streamline hiring, payroll processing, and compliance management for businesses seeking to manage remote teams effectively. Skuad also supports clients with visa assistance, background checks, and recruitment services, ensuring operational efficiency in markets including the United States, Canada, the United Kingdom, and various countries throughout Europe, Asia, and Latin America.In the most recent year 2023, Skuad reported a revenue of USD 9.20 mn and an EBITDA of USD -5.12 mn. The company generates income through subscription-based models for its HR services, charging clients a starting fee of USD 199 for hiring employees and USD 19 for contractor management, facilitating a streamlined approach to global employment.Following its acquisition by Payoneer, Inc. in August 2024, Skuad Pte. Ltd. plans to leverage new resources to enhance its service offerings. The integration with Payoneer will focus on expanding its contract and payroll services across additional markets. Future initiatives include launching new products designed to cater to specific client needs, with a goal to penetrate further into the European and Asian markets by 2025. The recent funding will support these expansion plans, enhancing Skuad's capabilities within the global HR landscape.

## Funding rounds

- Series A, Feb 14, 2023, $14M — Anthemis, BEENEXT, Argor, Rapyd Ventures, Mindlance, Inc., Boleh Ventures
- Series A, Oct 19, 2022, $15M — Anthemis, BEENEXT, Argor, Mindlance, Inc., Boleh Ventures
- Seed, Jul 21, 2020, $1.2M — Anthemis, Analog Capital, BEENEXT

## Investors

- Anthemis (https://capitalatlas.ai/funds/anthemis) — Seed, Series A
- Analog Capital — Seed
- BEENEXT (https://capitalatlas.ai/funds/beenext) — Seed, Series A
- Argor (https://capitalatlas.ai/funds/argor) — Series A
- Mindlance, Inc. — Series A
- Boleh Ventures — Series A
- Rapyd Ventures (https://capitalatlas.ai/funds/rapyd-ventures) — Series A