#JustGotAcquired! Send your congratulations to Singapore-founded Skuad. This global HR and payroll startup was just acquired by US fintech Payoneer for $61M in cash.

What’s the deal? Apart from the $61M, Payoneer could pay another $10M if Skuad meets certain performance goals in the first 18 months of the acquisition.

• Payoneer also committed to grant $10M in restricted stock units, subject to vesting contingent on continued employment of key personnel.

If all this happens, Payoneer could pay as much as around $81M.

🤔 Who’s in the Skuad

They launched in 2019 to make finding and hiring global talent easy.

• They last raised a $15M Series A in 2022 and raised around $19M in total.
• They focus on helping SMBs in over 160 countries with over 100 currencies solve issues that make distributed international teams difficult.

🤑 Who’s the buyer

Payoneer is a cross-border payment service for businesses and freelancers. They have around 2M customers in over 190 countries and territories.

✅ It checks out

Payoneer and Skuad focus on SMBs, especially in emerging markets that have international operations. Other solutions tend to focus on large and enterprise-level clients.

What’s next. All of Skuad’s 200 employees will be joining Payoneer. Oh, and Payoneer also plans to integrate Skuad’s payroll and contract management offering into their own offering.

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