Multiplier

Singapore-based Multiplier claims to be APAC’s first professional employer organization platform for managing payroll and compliance for international teams. Multiplier has established legal entities either by setting up the infrastructure or through partnerships with local entities. It assists businesses in reducing the cost of cross-border employment by offering hiring services, such as local labor law compliance, labor contracts, payroll, benefits, and taxes. It operates a subscription-based model charging USD 300 per employee and USD 40 per contractor per month as of September 2021.

In its latest funding round ( March 2022 ), Multiplier raised USD 60 million in Series B funding co-led by Tiger Global and Sequoia Capital India. The round followed Multiplier’s USD 13.2 million Series A round in November 2021 and brought its valuation to USD 400 million. The funds were raised to add new features such as allowing businesses to self-register, instantly share candidate contracts, and offer employee stock ownership plans (ESOP) through its platform. The company is also developing crypto-payroll features.