PAPAYA Global
{{Short description|Fintech SaaS company}}
{{Infobox company
| name = Papaya Global
| industry = Fintech
| founded = {{start date and age|2016}}
| founder = Eynat Guez, Ruben Drong, Ofer Herman
| hq_location = New York, USA
| key_people = Eynat Guez (CEO)
| services = Global payroll, Workforce management, Cross-border payments, Employer of Record (EOR), Contractor management, Global benefits and immigration services, Equity management
| num_employees = 700+
| num_employees_year = 2023
| website = {{URL|https://www.papayaglobal.com/}}
}}
PAPAYA Global is a fintech SaaS company that specializes in global workforce payroll and payments.{{Cite magazine |last=Steinberg |first=Don |date=2023-06-21 |title=TIME100 Most Influential Companies 2023: PAPAYA Global |url=https://time.com/collection/time100-companies-2023/6285162/papaya-global/ |access-date=2024-07-19 |magazine=Time |language=en}}{{Cite web |title=PAPAYA Global {{!}} Company Overview & News |url=https://www.forbes.com/companies/papaya-global/?list=cloud100/&sh=2de142ad734d |access-date=2024-07-19 |website=Forbes |language=en}} Eynat Guez is the CEO and co-founder of the company. The company gained unicorn status (more than $1 billion in valuation) in 2021.{{Cite web |last=Shen |first=Lucinda |date=September 11, 2021 |title=Unicorn startup PAPAYA Global nearly quadruples its valuation, eyes an IPO |url=https://fortune.com/2021/09/11/unicorn-startup-papaya-global-nearly-quadruples-its-valuation-eyes-an-ipo/ |access-date=2024-07-19 |website=Fortune |language=en}} In March 2022, Papaya Global acquired Azimo.{{Cite web |date=2022-03-28 |title=PAPAYA Global acquiring cross-border payments service Azimo for $150-200 million |url=https://www.calcalistech.com/ctechnews/article/s1i75fkx5 |access-date=2024-07-19 |website=ctech |language=en}} The company provides a unified platform that enables businesses to pay and manage employees and contractors worldwide, ensuring compliance with local regulations.{{Cite web |title=Papaya Global PEO Review and Pricing in 2025 |url=https://www.businessnewsdaily.com/papaya-global-review |access-date=2025-05-05 |website=Business News Daily |language=en}} Initially, Papaya has expanded into a payments-first workforce management platform, supporting organizations in over 160 countries.{{cite web |date=2025-05-05 |title=Article Title |url=https://www.calcalistech.com/ctechnews/article/rykn00pje |access-date=2025-05-05 |website=Calcalist Tech}}
History
PAPAYA Global was founded in 2016, by Eynat Guez, Ruben Drong, and Ofer Herman. The company raised $1.5 million in June 2016.{{Cite web |last=Orbach |first=Meir |date=2020-06-01 |title=Group 11 Joins PAPAYA Global as a Strategic Investor |url=https://www.calcalistech.com/ctech/articles/0,7340,L-3829110,00.html |access-date=2024-07-19 |website=CTECH - www.calcalistech.com}}{{Cite web |last=Tovim |first=Idan Ben |date=9 March 2021 |title=CEO of the Year: Papaya's Einat Guez talks gambling on remote work, SPACs, and women in tech |url=https://geektime.com/ceo-of-the-year-papayas-einat-guez-talks-gambling-on-remote-work-spacs-and-women-in-tech/ |archive-url=https://web.archive.org/web/20210310081952/https://geektime.com/ceo-of-the-year-papayas-einat-guez-talks-gambling-on-remote-work-spacs-and-women-in-tech/ |archive-date=2021-03-10 |access-date=2024-07-19 |website=geektime.com}} In November 2019, the company raised $45 million in a Series A funding round led by Insight Partners and Bessemer Venture Partners. In September 2020, Papaya Global secured an additional $40 million in Series B funding, led by Scale Venture Partners and Workday Ventures. This investment aimed at further developing the company's technology and expanding its market reach.{{Cite web |last=Szkutak |first=Rebecca |date=March 4, 2021 |title=Meet The Israeli Unicorn That Has Raised 75% Of Its Funding In The Last Six Months |url=https://www.forbes.com/sites/rebeccaszkutak/2021/03/04/meet-the-israeli-unicorn-that-has-raised-75-of-its-funding-in-the-last-six-months/ |access-date=2024-07-19 |website=Forbes |language=en}}
The following year, in March 2021, Papaya Global raised $100 million in a Series C funding round led by GreenOaks Capital Partners, with participation from IVP and Alkeon. This round valued the company at over $1 billion.{{Cite web |last=Lunden |first=Ingrid |date=2021-03-04 |title=PAPAYA Global raises $100M more at a $1B+ valuation for tools to hire, pay and manage distributed workforces |url=https://techcrunch.com/2021/03/04/papaya-global-raises-100m-more-at-a-1b-valuation-for-tools-to-hire-pay-and-manage-distributed-workforces/ |access-date=2024-07-19 |website=TechCrunch |language=en-US}} In September 2021, Papaya Global raised $250 million in Series D funding, bringing the company's valuation to $3.7 billion led by Insight Partners and Tiger Global Management.{{Cite web |last=Brummer |first=David |date=2021-09-12 |title=PAPAYA Global Raises $250M As Valuation Rockets To $3.7B |url=https://nocamels.com/2021/09/papaya-global-valuation-billion-unicorn/ |access-date=2024-07-19 |website=NoCamels |language=en-US}}
In March 2022, Papaya Global acquired Azimo,{{Cite web |last=Lunden |first=Ingrid |date=2022-03-28 |title=PAPAYA Global to buy Azimo to expand its payroll payments |url=https://techcrunch.com/2022/03/28/papaya-global-to-buy-azimo-for-150m-200m-to-expand-its-payroll-payments-to-more-markets/ |access-date=2024-07-19 |website=TechCrunch |language=en-US}} a cross-border payments platform, for an estimated $150–200 million, securing payment licenses in the UK, Netherlands, Canada, Australia, and Hong Kong.{{Cite web |title=PAPAYA Global to acquire Azimo making payments instant and unbound by geography |url=https://ibsintelligence.com/ibsi-news/papaya-global-to-acquire-azimo-making-payments-instant-and-unbound-by-geography/ |access-date=2024-07-19 |website=IBS Intelligence |language=en-US}}{{Cite web |last=SZYMULA |first=JĘDRZEJ |date=30 March 2022 |title=PAPAYA Global przejmuje platformę Azimo |url=https://fintek.pl/papaya-global-przejmuje-azimo/ |access-date=2024-07-19 |website=fintek.pl |language=pl}}
In March 2023, the company underwent a rebranding as a payments company, and launched ad campaigns including a Super Bowl LVIII advertisement under the tagline "Small Balls. Big Game."{{Cite web |last=Szkutak |first=Rebecca |date=2024-02-09 |title=Why a B2B startup is placing a bet on a $7M Super Bowl ad |url=https://techcrunch.com/2024/02/09/why-a-b2b-startup-is-placing-a-bet-on-a-7-million-super-bowl-ad/ |access-date=2024-07-19 |website=TechCrunch |language=en-US}}{{Cite web |last=Orbach |first=Meir |date=2024-02-01 |title=Israeli unicorn PAPAYA Global to unveil workforce payments platform with Super Bowl ad |url=https://www.calcalistech.com/ctechnews/article/bywrc00y56 |access-date=2024-07-19 |website=ctech |language=en}} In 2025, Papaya launched a follow-up campaign during the Super Bowl LIX.{{Cite web|date=2025-01-25 |title=Papaya Global Sets the Stage with Innovative Super Bowl Ad |url=https://www.superbowl-ads.com/papaya-global-sets-the-stage-with-innovative-super-bowl-ad/ |access-date=2025-05-05 |website=Superbowl-ads.com Video Archive 2025 |language=en-US}}
Products and services
Papaya Global provides a cloud-based platform for managing global workforce payments and payroll. Its services include payroll processing in over 160 countries, contractor management, Employer of Record (EOR) solutions, and equity administration tools. The platform is designed to support compliance with local labor laws and tax regulations across jurisdictions.{{cite web |author=Don Steinberg |date=2023-06-21 |title=Papaya Global |url=https://time.com/collection/time100-companies-2023/6285162/papaya-global/ |access-date=2025-05-05 |website=TIME}}{{cite web |title=Papaya Global: The Israeli Unicorn That Is Revolutionizing Global Payroll |url=https://www.calcalistech.com/ctechnews/article/rykn00pje |access-date=2025-05-05 |website=Calcalist Tech}}{{cite web |title=Papaya Global Review: Streamlining Global Payroll Management |url=https://thetechreport.com/papaya-global-review/ |access-date=2025-05-05 |website=The Tech Report}}
Operations
PAPAYA Global is headquartered in New York, USA, with additional offices in Hong Kong, Herzliya (Israel), London, Austin (USA), Krakow, Melbourne, India, Singapore, and Barcelona. As of 2024, the company employed approximately 832 people.{{Cite web |title=Papaya Global 2025 Company Profile: Valuation, Funding & Investors {{!}} PitchBook |url=https://pitchbook.com/profiles/company/173510-74 |access-date=2025-05-05 |website=pitchbook.com |language=en}}
References
External links
- [https://www.papayaglobal.com/ Official website]
Category:Financial technology companies
Category:Business services companies established in 2016
Category:Companies based in New York City
Category:Financial services companies based in New York City
Category:Software companies based in New York City
Category:Human resource management software