Payoneer acquires Boundless to expand global workforce management

HR and management technology firm Boundless, founded and headquartered in Dublin, has been acquired by global payments company Payoneer in a move that strengthens international workforce management capabilities for scaling businesses. Financial terms of the transaction were not disclosed.

Established in 2019 by Dee Coakley and Emily Castles, Boundless provides HR and compliance infrastructure that allows companies to employ staff across borders while managing local payroll, tax and employment regulations. 

Prior to the acquisition, the platform was active in 32 global markets, serving organisations seeking to scale internationally without building local entities.

Payoneer, a US-listed global payments company founded in 2005, said the acquisition aligns with its strategy to deliver a more comprehensive offering for small and medium-sized businesses operating across borders, while also deepening its European footprint. Boundless will sit within Payoneer’s global workplace management division.

Speaking about the transaction, Coakley said the acquisition enables faster international expansion than would have been possible independently. 

“The deal means we can accelerate at a rate that would have been difficult to do as a smaller business. This really catapults us forward in terms of reach, and also the level of support that we have as part of a bigger company,” she said.

She added that customer demand for broader geographic coverage was a key factor. 

“We were already live in 32 countries prior to the acquisition but we didn't have a global reach. Lots of our customers were asking for support in other regions,” Coakley said.

Payoneer, which employs more than 2,000 people and serves over five million customers worldwide, listed on Nasdaq in 2021 at a valuation of $3.3 billion (€3.04 billion). 

Discover how this acquisition reshapes cross-border HR and compliance in the full story.