Skuad team image
Skuad, a digital payroll platform for remote teams, has secured US$4 million in a seed funding round, led by Singapore-based VC firm BEENEXT and venture investment platform Anthemis Group.
Other investors in the company included Alto Partners Multi-Family Office and Rohan Monga, CEO of Zenius Education.
With the new funding, Skuad intends to develop its remote employment infrastructure and scale its growth team across multiple geographies.
The idea for Skuad sprouted into the minds of the three co-founders –Sundeep Sahi (former CPO at Brand Networks), Naman Singhal (former CEO of AppStreet) and Dave Fall (former CEO Brand Networks)– after they experienced the pains of running a remote team with their previous companies. This included setting up legal entities and ensuring remote compliances for each country.
Since every country has its own unique requirement, the trio decided to come up with one “global employment platform” where companies can hire remote employees without setting up subsidiaries or local infrastructure in other countries.
Skuad employers are able to pay their remote workforce seamlessly on one platform. Beyond automating global payroll, local compliance and taxation, the platform also manages benefits for remote employees across the globe. In order to use these services, employers have to pay a flat fee per employee they hire via its website.
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In addition to these services, Skuad also helps working professionals find the right kind of remote working opportunities.
“We started building Skuad pre-COVID-19 with a vision of a flat world where great talent can have an amazing and fulfilling career in their own city or country while working remotely for thriving companies that would love to hire them. The pandemic reinforced further this idea across the globe and we are already seeing a significant uptick on this demand in various corridors,” Sahi told e27 in an email interview.
“We are a platform that simplifies the global team hiring by standardising employment contracts for various countries, digitising global payroll and compliances as well as automating payments to remote employees to pay them in their local currencies. We charge a flat fee per remote employee per country to hire, pay as well as manage their local compliance and taxation,” he further explained.
Skuad’s platform for hiring has been used by many large companies such as Indonesian tech giant gojek and Indian telecom giant Airtel.
As of now, it has over 90 people in its team, distributed across four continents.
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Image Credit: Skuad
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