Papaya Global and Worksome have formed a strategic partnership to help companies manage and pay freelancers globally, combining payment infrastructure with freelancer management tools in a single platform.
The partnership announced Tuesday targets the growing contingent workforce market, which already represents 40 per cent of global workers and is expected to exceed 50 per cent by 2050, according to the companies.
The collaboration combines Papaya’s payment infrastructure with Worksome’s freelancer management system to create what the companies describe as the most complete end-to-end solution for managing independent contractors across multiple countries.
Companies can now classify workers, handle onboarding and process payments in local currencies across more than 160 countries through one unified system, eliminating the need for multiple disconnected tools or manual processes.
Payment delays and compliance risks addressed
The partnership aims to solve common problems enterprises face when hiring global freelancers, including compliance risks, payment delays and complex integration requirements between different systems.
“The contingent workforce is the fastest-growing segment of global employment, and also the hardest to manage,” said Eynat Guez, CEO and co-founder of Papaya Global. “Together with Worksome, we’re solving this challenge at enterprise scale, offering a one-stop solution from onboarding to real-time payments.”
“We built Worksome as a modern, tech-based solution to simplify the chaos of contractor management,” said Morten Petersen, CEO and co-founder of Worksome. “The partnership with Papaya tackles one of the biggest challenges in contingent workforce, together we’re delivering a global solution that’s fast, flexible, and enterprise-ready.”
Real-time payments in local currencies
The combined platform allows companies to pay freelancers instantly in their local currency with built-in compliance and full audit capabilities. The system includes worker classification tools and integrated agent of record and employer of record services.
This addresses a key challenge for enterprises that have traditionally relied on legacy systems or manual processes to manage growing numbers of independent contractors and gig workers.
Company backgrounds
Papaya Global provides workforce payment services to help enterprises pay workers in local currencies across more than 160 countries. The company has raised more than $450 million in funding and was most recently valued at $3.7 billion.
Papaya’s payment services operate through Azimo, its licensed payments division that is regulated in five jurisdictions and works with partners including J.P. Morgan to provide workforce payments worldwide.
Worksome operates as a freelance management system for enterprises, helping companies engage, manage and pay independent talent. The company serves more than 350 clients including Carlsberg, Novo Nordisk and Oliver Agency.
Worksome has operations in Copenhagen, London and New York and focuses on providing automation tools for freelancer onboarding, classification and payment processing.
