Revolut, the fintech giant, is set to broaden its horizons beyond banking and payment services with the launch of its new employer of record (EOR) service, Globalhire. Expected to debut in the second half of this year, Globalhire will enable businesses to hire employees from 160 countries while leaving compliance, taxation, and local regulations in the hands of Revolut—eliminating the need for companies to establish legal entities in multiple jurisdictions.
How Globalhire works
Globalhire is designed to simplify the process of hiring international talent. As an EOR, Revolut will formally employ workers on behalf of businesses, managing all legal and administrative responsibilities. This represents a significant expansion of Revolut’s services, moving beyond its traditional banking and payment offerings.
The new service will handle critical HR functions such as payroll administration, tax compliance, benefits management, and employee onboarding. By streamlining these processes, Globalhire aims to remove traditional barriers to global hiring, particularly the complexities of navigating different regulatory environments and setting up legal entities in various countries. This initiative builds on Revolut’s internal HR platform, which was introduced approximately a year ago.
Revolut’s strategic goals
Revolut’s foray into global workforce management is part of a broader strategy with three key objectives:
- Leveraging its fintech infrastructure – The company is utilizing its established technological and financial systems to enter a new market segment.
- Diversifying beyond traditional banking – With Globalhire, Revolut is expanding its service portfolio, moving into the HR and employment sector.
- Strengthening client loyalty – By offering corporate clients a seamless global hiring solution, Revolut aims to retain and attract high-value business customers.
