Fast-growing startup Papaya Global is working to transform the complex world of international human resource management through automated technology combined with a network of experts throughout the world.
The company was founded with the belief that tools for managing global workforce and international payroll across multiple countries were outdated, time consuming and prone to mistakes. Their platform, which connects clients to a worldwide network of preferred suppliers and service providers in 90 countries, promises a more transparent and automated experience for global employers and employees.
The Israeli-based company was founded in 2016 and grew rapidly in 2017, jumping from zero to 100 clients and raising $2.4 million in venture capital through two seed rounds. We spoke with Chief Marketing Officer Efrat Kotler Barak at UNLEASH London Startup Ecosystem about the growing company’s expanding global operations.
What does Papaya Global offer clients?
What we do is global payroll and workforce management. Our platform digitizes, automates and helps you gain complete control of everything you need for global workforce management because we know what a hassle it is. You don’t want to manage anything on spreadsheets and emails — especially now with the GDPR coming into place. Our analytics allow you complete control throughout the year, so you can see everything, like how much you need to pay, how much have you paid, changes in your payroll, and changes in your global employment.
Who are your customers?
Most of them are very fast-growing small companies. We won’t say no if there’s a big corporation who needs to manage the very complex payroll of their organization, but usually we help companies who need to expand — they need a solution fast and they just don’t know who to talk to or if they need to hire a complete department. We save time, we save money and we save a lot of headache.
What region are you the strongest in right now?
Actually all over the world. We’ve have a lot of fast growing companies in the States, Singapore and the Middle East — and Israel of course because that’s our home country. But we have a variety of clients all over the world and we’re very proud of that.
Think back to when you first started your career. How has the workplace changed?
What we do today would not have been invented when I started working 10 years ago. What we do is not only HR, it’s HR adjoined. It’s legal, it’s operations, it’s something that’s so much bigger than the narrow perspective of when we started. I think today’s workforce has to be very aware of all these changes, and you can’t afford to stay behind. For example, we’re implementing blockchain as part of our platform in mid-2018. We’re even paying people, if they want, with Bitcoin — up to 30% of their salary.
Why would you choose to pay people in Bitcoin?
Because globally, there are different types of workforces and different types of needs. Things are changing and when you find someone who’s really talented and really fits your company, you want to accommodate his needs, and that could be a really wide range of things.