Skuad
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Skuad was a Singapore-based global HR and payroll startup founded in 2019 by Sundeep Sahi. As an employer-of-record platform, it helped small and medium employers compliantly hire across more than 160 countries—handling varying local regulations, international payroll in 100+ currencies and remote onboarding—so companies could build distributed teams without setting up local subsidiaries. It raised about $19 million, including a $15 million Series A in October 2022 from Beenext, Anthemis and others.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company founded
Sundeep Sahi founds Skuad in Singapore to simplify international hiring for distributed teams.
- Series A funding
Skuad raises $15 million in Series A funding, bringing total raised to $19 million, serving 350+ employers across 160+ countries.
- Acquired by Payoneer
On August 7, 2024, fintech Payoneer announces it is acquiring Skuad for $61 million in cash, with up to $10 million more contingent on performance and $10 million in restricted stock units—up to ~$81 million total; all ~200 Skuad employees join Payoneer.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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