Rapyd, a global Fintech-as-a-Service provider, recently revealed that it has teamed up with Lano, a platform that assists businesses with recruiting and managing their global teams, in order to power their global payment and disbursement capabilities.
As stated in a release, this past year marked a “dramatic acceleration” in the adoption of remote working. A Microsoft study reveals that 46% of the workforce now intends to “move in response to this new found corporate flexibility,” the announcement noted while adding that many firms have “jumped headfirst into the race to attract the best remote talent: there has been a 5X increase of remote job postings on LinkedIn since the start of the pandemic. Others are working to adapt existing policies and structures to the current environment.”
As mentioned in the release, “in both cases, there’s a great deal of uncertainty when it comes to how to hire and manage global talent in a simple and compliant way.”
The release further noted that Lano operates in over 150 different countries and almost 5,000 cities. The company aims to support talented professionals across the globe, by working cooperatively with leading firms to assist them with manage hiring, compliance, and payments for full-time employees or freelancers.
As noted in the announcement:
“Lano is leveraging Rapyd’s payment capabilities to enable remote workers to get paid faster and without the hassle of complex transactions or expensive conversions into local currency. With Rapyd, Lano will now be able to offer improved access to local payment methods in 50+ currencies, a functionality key to the dispersed workforce. Employers can also approve and pay invoices for their global team in minutes, while enjoying considerable savings on FX fees and costly international bank transfers, allowing them to focus on key business functions as opposed to payment logistics.”
Sarel Tal, VP EMEA at Rapyd, said they’re looking forward to working with Lano, a firm whose vision is consistent with theirs – which is to support a future without borders that “continues to support local preferences.” Tal also noted that international payment management has “long been one of the most complicated parts of managing a global workforce for companies.”
“Such cross-border payments introduced additional costs for both the employer and the employee, along with delayed payments and the associated compliance and regulatory issues. This has significantly limited employers from taking advantage of international talent – but we are making that a problem of the past and are enabling companies of all sizes to go global.”
Aurel Albrecht, CEO and Co-Founder of Lano, stated that with Rapyd’s capabilities, they can empower more firms to recruit talented professionals for their teams “without the limitations of currency or geography.”
“Given our European origin, we know that the size of the local talent pool can dictate the pace of growth. This partnership will better equip companies to grow on a global scale, without worrying about challenges related to compliance or cross-border payments.”
As explained in the release, Lano aims to help firms everywhere “grow their global teams.” Lano offers the tools needed to recruit, manage and pay a remote workforce via a “smart” platform. The company’s solution has been developed to address the challenges of the rapidly evolving landscape. Lano “paves the way for companies of any size to access the best talent on the planet.”
You can hire full-time workers or establish a network of freelance contractors in over 150 countries, pay your team “instantly in any one of 50 currencies, or scale up operations in new markets.” You can learn more about these solutions here.
As previously reported, Rapyd aims to provide “the fastest way to power local payments anywhere in the world, enabling companies across the globe to access markets quicker than ever before.” By utilizing Rapyd’s payments network and Fintech-as-a-Service platform, individuals and companies are able to engage in local and cross-border transactions in “any market.”
The Rapyd platform aims to unify “fragmented” payment systems by bringing together 900+ payment methods in more than 100 countries. Rapyd’s investors reportedly include Stripe, General Catalyst, Oak HC/FT, Tiger Global, Durable Capital, Target Global, and TaL Capital.