Payoneer kickstarts European expansion with Boundless acquisition. Financial technology group strengthens global employment platform as cross-border hiring surges.
Payoneer has acquired Boundless, an Irish employer-of-record platform, as the Nasdaq-listed payments company seeks to capitalise on growing demand for compliant cross-border workforce management services.
The acquisition of the business led by Irish tech entrepreneur Dee Coakley adds European expertise to Payoneer’s global employment platform and comes as businesses increasingly struggle with the complexities of hiring and managing international teams across different regulatory jurisdictions.
Boundless is a Dublin-based HR and compliance platform founded by Coakley and Emily Castles in 2019. It helps companies employ remote workers globally by managing payroll, taxes, and legal compliance. The company has raised funding from investors including Ada Ventures and Playfair Capital, supporting its expansion into multiple countries. Boundless focuses on simplifying distributed team management for SMEs and start-ups.
The company handles HR compliance, payroll and benefits across multiple countries, solving a problem that has become increasingly common as the boundaries between work and location continue to blur.
Boundless opportunities
Boundless CEO and founder Dee Coakley
For Payoneer, which serves millions of small and medium-sized businesses worldwide, the acquisition represents another building block in its strategy to offer comprehensive financial services for companies operating across borders.
Last year, the New York-based group acquired Skuad, now rebranded as Payoneer Workforce Management, to strengthen its global accounts payable capabilities.
“The global talent landscape is shifting dramatically,” said John Caplan, Payoneer’s chief executive.
“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.”
The acquisition addresses persistent challenges for cross-border businesses, particularly smaller companies with limited financial resources. Managing global accounts payable remains problematic due to fragmented banking relationships and varying local regulations that make it difficult to ensure timely and compliant payroll processing.
Boundless, which helps companies handle cross-border payroll, taxes, benefits, and compliance, will enable Payoneer to expand its European footprint while serving customers seeking scalable workforce solutions.
“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, Boundless’s chief executive and co-founder.
“Together, we will enable more businesses to expand internationally, pay and manage talent across borders more efficiently.”
Payoneer describes itself as a financial platform for cross-border business and global payments, serving businesses particularly in emerging markets. The company aims to help small and medium-sized enterprises connect to the global economy and manage funds across multiple currencies.
The financial terms of the Boundless acquisition were not disclosed.
Top image: Boundless founders Dee Coakley and Emily Castles
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