Global payroll platform Payoneer is trying widened its reach further on an international scale. It has lately acquired startup Skaud for $61 million. The acquisition is strategic and payment is in cash.
Payoneer is renowned for its global payments and e-commerce solutions. The acquisition deal highlights its commitment to expand services further internationally.
Skaud was founded in 2019 and established itself rapidly since then in the payroll industry. It is mainly focused in providing payroll services to such businesses which have international teams. It makes the payroll processing simple for them. It also ensures compliance with various local regulations of countries. Its capability is particularly valuable such companies which look for streamline their payroll operations and simultaneously adhere to international standards.
The acquisition aligns with the vision of Payoneer to become a comprehensive financial services platform in the world as Skaud is equipped with advanced payroll technology and expertise. Payoneer is believed to offer more robust payroll solutions to the customers amid evolving demands of such services. Businesses can now manage their international workforce efficiently.
It is believed that the acquisition is to bring significant benefits to the customers of Payoneer too. The services will be more streamlined now and complexities could be minimized. Administrative burdens can also be the least henceforth.
Moreover, the acquisition is believed to strengthen the market position of Payoneer. It can now aim to become the market leader in the global financial services industry. Over the years, the company has continuously demonstrated dedication to support businesses with its payroll solutions. Skaud will be an extended benefit to its strategic vision.
