Payoneer buys Boundless to bolster European hiring push

Payoneer has acquired Boundless, an Ireland-based employer of record platform, in a move that expands Payoneer's workforce management operations and adds to its presence in Europe.

The deal follows Payoneer's acquisition of Skuad in 2024. Payoneer rebranded Skuad as Payoneer Workforce Management. The company said the latest acquisition reflects demand from small and medium-sized businesses for simpler approaches to hiring and paying international teams.

Employer of record platforms manage employment in countries where a client does not have a local legal entity. They commonly handle contracts, payroll and associated filings. Payoneer said the market has shifted as cross-border hiring rises and labour rules change across jurisdictions.

European expansion

Payoneer described Boundless as adding depth in Europe and broader support for customers looking for workforce management services across borders. The company said Boundless covers payroll, taxes, benefits and compliance for international hiring.

Payoneer already operates a cross-border payments business. It positions its wider product set as a financial platform for companies that trade internationally. The company said workforce management fits with the needs of businesses that have limited finance staff and complex payment processes across different banking relationships.

Payoneer said accounts payable and payroll remain difficult for small and medium-sized businesses working internationally. It pointed to fragmented banking arrangements and different local regulations as drivers of that complexity. It also cited a need for accurate and compliant payroll across multiple jurisdictions.

Workforce stack

Payoneer framed the acquisition as part of a broader strategy around an end-to-end approach to financial operations for internationally active businesses. The company said it plans to offer hiring, payroll, tax and compliance services within one set of tools.

Skuad formed the base of Payoneer's workforce management line following the 2024 acquisition. Payoneer said that transaction strengthened its global accounts payable offering. It has now added Boundless as a second acquisition in the same area.

Payoneer did not disclose financial terms for the acquisition.

John Caplan, Chief Executive Officer, Payoneer, linked the transaction to changes in the global hiring environment.

"The global talent landscape is shifting dramatically," said John Caplan, Chief Executive Officer, Payoneer.

"From new visa policies to evolving labor regulations, companies everywhere are rethinking how they hire and manage global teams," said Caplan. "With Boundless joining the Payoneer Workforce Management team, we are even better positioned to help businesses access and manage talent anywhere in the world easily, compliantly, and confidently," said Caplan.

Boundless team

Boundless operates from Ireland and focuses on employer of record services. Its platform supports companies that hire internationally and want local employment arrangements in the worker's country.

Dee Coakley, Chief Executive Officer and Co-Founder of Boundless, said the company will contribute regional expertise through the combination.

"Joining Payoneer allows us to bring our European expertise to a truly global platform, helping more companies navigate the complexities of international hiring and compliance," said Dee Coakley, Chief Executive Officer and co-founder of Boundless. "Together, we will enable more businesses to expand internationally, pay, and manage talent across borders more efficiently," said Coakley.

Payoneer said it serves millions of businesses and focuses on cross-border payments and multi-currency fund management. The company also said it has a focus on small and medium-sized businesses, including firms in emerging markets.

The acquisition gives Payoneer another workforce management asset alongside Skuad. It also adds an Ireland-based operation as Payoneer develops its European footprint. Payoneer said Boundless will join the Payoneer Workforce Management team.

Payoneer said companies continue to reconsider hiring models as visa rules and labour regulations change, and it expects demand for compliant international hiring and payroll services to remain a focus for its workforce management business.