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PAPAYA Global

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Papaya Global
IndustryFintech
Founded2016; 9 years ago (2016)
FounderEynat Guez, Ruben Drong, Ofer Herman
HeadquartersNew York, USA
Key people
Eynat Guez (CEO)
ServicesGlobal payroll, Workforce management, Cross-border payments, Employer of Record (EOR), Contractor management, Global benefits and immigration services, Equity management
Number of employees
700+ (2023)
Websitewww.papayaglobal.com

PAPAYA Global is a fintech SaaS company that specializes in global workforce payroll and payments.[1][2] Eynat Guez is the CEO and has been since the company was established. The company gained unicorn status (more than $1B in valuation) in 2021.[3] In March 2022, Papaya Global acquired Azimo.[4] The company provides a unified platform that enables businesses to pay and manage employees and contractors worldwide, ensuring compliance with local regulations.[5] Initially, Papaya has expanded into a payments-first workforce management platform, supporting organizations in over 160 countries.[6]

History

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PAPAYA Global was founded in 2016, by Eynat Guez, Ruben Drong, and Ofer Herman. The company raised $1.5 million in June 2016.[7][1][8] In November 2019, the company raised $45 million in a Series A funding round led by Insight Partners and Bessemer Venture Partners.[7] 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.[9]

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.[3][10] In September 2021, Papaya Global raised $250 million in Series D funding, bringing the company's valuation to $3.7 billion[1] led by Insight Partners and Tiger Global Management.[11]

In March 2022, Papaya Global acquired Azimo,[12] a cross-border payments platform, for an estimated $150–200 million, securing payment licenses in the UK, Netherlands, Canada, Australia, and Hong Kong.[13][14]

In March 2023, the company underwent a rebranding, and in 2024 it launched the Super Bowl Campaign under the tagline "Small Balls. Big Game." It was an unexpected move by a B2B tech company to advertise in a mostly B2C arena like the Super Bowl. The ad launched Papaya as a payments company and was supported by parallel and digital campaigns.[15][16]

In 2025, Papaya launched a follow-up campaign during the Super Bowl to raise brand awareness and highlight its focus on payments.[17]

Products and services

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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.[18][19][20]

Key services include:

  • Global payroll for employees in over 160 countries, in accordance with local tax and employment regulations
  • Employer of Record (EOR) services, enabling companies to employ workers internationally without establishing local legal entities
  • Contractor management, including onboarding, payments, and classification support for international freelancers and contractors
  • Cross-border payments for workforce-related compensation and third-party vendor payments
  • Global benefits and immigration services, including visa assistance and benefits package administration
  • Equity management tools for handling global employee stock and compensation plans

The company’s platform is used by organizations to manage workforce-related payments, maintain compliance documentation, and consolidate data on employee and contractor engagements worldwide.

Operations

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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 employs approximately 832 people.[2][21]

References

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  1. ^ a b c Steinberg, Don (2023-06-21). "TIME100 Most Influential Companies 2023: PAPAYA Global". Time. Retrieved 2024-07-19.
  2. ^ a b "PAPAYA Global | Company Overview & News". Forbes. Retrieved 2024-07-19.
  3. ^ a b Shen, Lucinda (September 11, 2021). "Unicorn startup PAPAYA Global nearly quadruples its valuation, eyes an IPO". Fortune. Retrieved 2024-07-19.
  4. ^ "PAPAYA Global acquiring cross-border payments service Azimo for $150-200 million". ctech. 2022-03-28. Retrieved 2024-07-19.
  5. ^ "Papaya Global PEO Review and Pricing in 2025". Business News Daily. Retrieved 2025-05-05.
  6. ^ "Article Title". Calcalist Tech. 2025-05-05. Retrieved 2025-05-05.
  7. ^ a b Orbach, Meir (2020-06-01). "Group 11 Joins PAPAYA Global as a Strategic Investor". CTECH - www.calcalistech.com. Retrieved 2024-07-19.
  8. ^ Tovim, Idan Ben (9 March 2021). "CEO of the Year: Papaya's Einat Guez talks gambling on remote work, SPACs, and women in tech". geektime.com. Archived from the original on 2021-03-10. Retrieved 2024-07-19.
  9. ^ Szkutak, Rebecca (March 4, 2021). "Meet The Israeli Unicorn That Has Raised 75% Of Its Funding In The Last Six Months". Forbes. Retrieved 2024-07-19.
  10. ^ Lunden, Ingrid (2021-03-04). "PAPAYA Global raises $100M more at a $1B+ valuation for tools to hire, pay and manage distributed workforces". TechCrunch. Retrieved 2024-07-19.
  11. ^ Brummer, David (2021-09-12). "PAPAYA Global Raises $250M As Valuation Rockets To $3.7B". NoCamels. Retrieved 2024-07-19.
  12. ^ Lunden, Ingrid (2022-03-28). "PAPAYA Global to buy Azimo to expand its payroll payments". TechCrunch. Retrieved 2024-07-19.
  13. ^ "PAPAYA Global to acquire Azimo making payments instant and unbound by geography". IBS Intelligence. Retrieved 2024-07-19.
  14. ^ SZYMULA, JĘDRZEJ (30 March 2022). "PAPAYA Global przejmuje platformę Azimo". fintek.pl (in Polish). Retrieved 2024-07-19.
  15. ^ Szkutak, Rebecca (2024-02-09). "Why a B2B startup is placing a bet on a $7M Super Bowl ad". TechCrunch. Retrieved 2024-07-19.
  16. ^ Orbach, Meir (2024-02-01). "Israeli unicorn PAPAYA Global to unveil workforce payments platform with Super Bowl ad". ctech. Retrieved 2024-07-19.
  17. ^ "Papaya Global Sets the Stage with Innovative Super Bowl Ad". Superbowl-ads.com Video Archive 2025. 2025-01-25. Retrieved 2025-05-05.
  18. ^ Don Steinberg (2023-06-21). "Papaya Global". TIME. Retrieved 2025-05-05.
  19. ^ "Papaya Global: The Israeli Unicorn That Is Revolutionizing Global Payroll". Calcalist Tech. Retrieved 2025-05-05.
  20. ^ "Papaya Global Review: Streamlining Global Payroll Management". The Tech Report. Retrieved 2025-05-05.
  21. ^ "Papaya Global 2025 Company Profile: Valuation, Funding & Investors | PitchBook". pitchbook.com. Retrieved 2025-05-05.
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