Singapore digital payroll startup bags $4m in seed round from Beenext, others

Skuad, a Singapore-based digital payroll platform for remote teams, announced that it has raised US$4 million in seed financing from Beenext and Anthemis Group.

Alto Partners Multi-Family Office as well as Zenius Education CEO Rohan Monga also joined the round.

Photo credit: Skuad

Founded in 2019, Skuad runs a global employment platform that helps employers build and pay their remote workforce without the need to set up local entities.

With Covid-19 shifting how organizations build teams, companies are increasingly hiring talent beyond their geographic boundaries. However, hiring in other countries is complex and has compliance risks associated with it.

To address these issues, the Singapore-based startup automates global payroll, local compliance, and taxation, as well as provides benefits for employees spread across the world. It claims that companies can onboard employees or contractors within minutes with its platform.

With the fresh funds, Skuad plans to grow its remote employment infrastructure and scale its growth team in several geographies.

According to the startup, its platform is currently used by companies in countries across Southeast Asia, Africa, and North America.

Skuad was co-founded by Sundeep Sahi, Naman Singhal, and Dave Fall. Sahi was the senior vice president of Airtel and software design lead at Microsoft, while Singhal was the former CEO of AppStreet, a mobile application development company. Fall, meanwhile, served as the former CEO of Brand Networks and group product manager at Google.