Payoneer's Strategic Acquisition of Skuad: A $61M Investment in Global Payroll Solutions

Wednesday, 7 August 2024, 11:30

In a significant move for the fintech industry, Payoneer has announced its acquisition of Skuad, a Singapore-based global payroll startup, for $61 million in cash. This strategic purchase aims to enhance Payoneer's service offerings by integrating Skuad's innovative payroll solutions. The acquisition is expected to bolster Payoneer’s position in the competitive fintech landscape, catering to businesses with international workforce needs. This deal marks a proactive step by Payoneer to expand its market footprint and improve operational efficiency.

TechCrunch — Payoneer's Strategic Acquisition of Skuad: A $61M Investment in Global Payroll Solutions

Payoneer Acquires Skuad

Exclusive: Fintech company Payoneer is acquiring the Singaporean global payroll startup Skuad for $61 million in cash.

Strategic Importance

This acquisition enhances Payoneer’s offerings.
Skuad's innovations significantly contribute to payroll solutions.

Market Positioning

Bolsters Payoneer's competitiveness in fintech.
Focus on serving international businesses.

Overall, this deal is a proactive measure for Payoneer to expand its market presence and enhance service efficiency.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Payoneer Acquires Skuad

Strategic Importance

Market Positioning

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