How to pay remote workers using FinTech
Possibly my two favourite subjects – hiring and Fintech so I thought I’d share some insights on how you use some amazing tech to legally and compliantly pay your remote workers, especially relevant when you may not have a legal entity in your worker’s country.
Out with the old…
Way back when (we’re talking 2019), hiring remote workers meant either using a platform like Upwork and Fiverr which were really designed for the gig economy or having to go through an expensive, manual payroll (or portage) company. This added significant complications to those companies looking to hire overseas and in truth, was more often than not a deal breaker.
In with the new…
Wind the clock forward a couple of years, and partially due to the Covid pandemic, more and more companies started to realise that they now have access to a global talent pool. No longer are they confined to hiring in local cities – they can now hire the very best talent on the planet.
Companies then faced the reality of ‘how’, more specifically, how do we remain compliant, how do we pay in local currencies, stay compliant and act within the numerous labor law – and probably most importantly, how do we ensure this is seamless for everyone in the process?
Remote… dot com
And then came Remote.com – founded in 2019 by Job van der Voort and Marcelo Lebre to simplify how companies employ global talent. This global fintech offers an easy, fully compliant global payroll solution across 170 countries. What’s more, they’ve gone as far as removing the headache of company establishment meaning you could theoretically launch into a new country tomorrow!
They are extremely well funded having raised over $196m from some serious tech VC’s and we couldn’t pass up the opportunity of partnering with them.
They boast an enviable client list including Paystack, Loom, GitLab and cargo.one.
Check out their website for more details (and it’s a pretty cool site as well!)
Disclaimer: if you visit Remote.com via this blog and end up becoming a customer, we will get a small thank you from them (at no cost to you!)
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