Global employment platform Boundless has been acquired by Payoneer for an undisclosed sum.
American financial services company Payoneer offers online money transfer, digital payment services and provides customers with working capital.
Under the deal, Boundless will become part of the US financial services company, allowing it to grow its footprint in Europe and support global customers.
“Joining Payoneer allows us to bring our European expertise to a truly global platform, helping more companies navigate the complexities of international hiring and compliance,” said Dee Coakley. “Together, we will enable more businesses to expand internationally, pay and manage talent across borders more efficiently.”
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Founded by Ms Coakley and Emily Castles in 2019, Boundless was established to simplify international employment, acting as an employer of record for companies who want to hire and pay remote employees in other countries without setting up their own local business entities.
The Boundless platform combines easy-to-use technology with local market expertise, enabling full compliance with employment and tax regulations in the territories in which they operate, enabling business to handle cross-border payroll, taxes, benefits and compliance.
Both co-founders are expected to stay on with the company following the closure of the deal.
“The global talent landscape is shifting dramatically,” said John Caplan, chief executive of Payoneer. “From new visa policies to evolving labour regulations, companies everywhere are rethinking how they hire and manage global teams. With Boundless joining the Payoneer workforce management team, we are even better positioned to help businesses access and manage talent anywhere in the world easily, compliantly, and confidently.”
Boundless employs 23 people worldwide, with most of those based in Ireland, and works with organisations in 35 countries.
Among its customers are Next15, Christies, Cubic Telecom, Datalex, Code Institute, FundRecs and Zyte.
It has raised more than €6 million in funding to date, with backers including Ada Ventures and Seedcamp.
