Global payroll, Workforce management, Cross-border payments, Employer of Record (EOR), Contractor management, Global benefits and immigration services, Equity management
PAPAYA Global is a fintechSaaS company that specializes in global workforce payroll and payments. The company was founded in 2016 by Eynat Guez, Ruben Drong, and Ofer Herman.[1][2] Eynat Guez is the CEO and has been since the company was established. The company gained unicorn status (more than $1B in valuation) in 2021.[3] In March 2022, Papaya Global acquired Azimo.[4]
History
PAPAYA Global was founded in 2016, by Eynat Guez, Ruben Drong, and Ofer Herman. The company raised $1.5 million in June 2016.[5][1][6] In November 2019, the company raised $45 million in a Series A funding round led by Insight Partners and Bessemer Venture Partners.[7] In September 2020, Papaya Global secured an additional $40 million in Series B funding, led by Scale Venture Partners and Workday Ventures. This investment aimed at further developing the company's technology and expanding its market reach.[8]
The following year, in March 2021, Papaya Global raised $100 million in a Series C funding round led by GreenOaks Capital Partners, with participation from IVP and Alkeon. This round valued the company at over $1 billion.[3][9] In September 2021, Papaya Global raised $250 million in Series D funding, bringing the company's valuation to $3.7 billion.[1] This round was led by Insight Partners and Tiger Global Management and supported the continued expansion of PAPAYA Global's services and the scaling of its global operations.[10]
In March 2022, Papaya Global acquired Azimo.[11] The acquisition, completed in March 2022, provided Papaya Global with licenses for payment services in multiple regions, including the UK, the Netherlands, Canada, Australia, and Hong Kong.[12][13]
In March 2023, the company underwent a rebranding, and in 2024 it launched the Super Bowl Campaign under the tagline "Small Balls. Big Game." It was an unexpected move by a B2B tech company to advertise in a mostly B2C arena like the Super Bowl. The ad launched Papaya as a payments company and was supported by parallel and digital campaigns.[14][15]
Activities
Papaya Global solutions include workforce management, payroll, and cross-border payroll payments, enabling international transactions for payroll and other business payments. The company's global payroll and payments platform enables clients to manage payroll across 160 countries, in compliance with local laws and regulations. It also provides Employer of Record (EOR) services.[1]
It also offers contractor management solutions for managing and paying contractors worldwide. The platform provides global benefits and immigration, managing employee benefits and supporting immigration procedures across different countries.[16][17][18]
Operations
The company is headquartered in New York, USA, with additional offices in Hong Kong, Herzliya (Israel), London, Austin (USA), Krakow, Melbourne, India, Singapore, and Barcelona. As of 2023, the company employs over 750 people across these locations.[2]
