Ontop

Ontop is an EoR for SMEs to hire talent in 150 countries without the administrative burden of creating contracts, compliance documentation, and facilitating payments to international employees. Key platform features include managing salaries (including bonuses, rewards, reimbursements), invoices, hiring flow procedures and streamlined expense management. The company also offers online wallets and a physical or digital company card backed by Visa. 

Ontop added streamlined US wire payments to its platform in December 2023, enabling streamlined transactions and support for paying workers in cryptocurrencies. The company claims that use of its platform can save companies ~USD 1,000 per employee per year. The company generates revenue via monthly subscriptions per individual, priced at USD 299 per employee, and USD 29 for contractors.

Key customers and partnerships

As of May 2021, the platform reports more than 200 clients across 150 countries, facilitating payroll in more than 100 currencies. Notable enterprises using the platform included Softtek, ABInBev and FEMSA.

Funding and financials

In December 2022, the company raised an undisclosed amount of funding in a Series A round which included participation from Endeavor Catalyst Fund. Previously, in May 2021, the company announced its USD 4.5 million seed funding round led by Point72 Ventures. Funds were earmarked for product development, including the roll-out of product features such as additional payment options for contractors and the ability to maintain accounts in multiple currencies.