Revolut Business enters the Employer of Record market with GlobalHire
Revolut Business has launched GlobalHire, a new Employer of Record (EOR) service that lets UK companies hire, onboard and pay international talent across more than 160 countries without the need to set up local legal entities.
The move puts Revolut into direct competition with established EOR specialists such as Deel and Remote, and extends the licensed business bank's platform beyond payments, FX and expenses into workforce and global payroll.
What GlobalHire does
GlobalHire is built into the Revolut Business account, giving finance and people teams a single environment to run hiring, compliance and cross-border payroll. According to Revolut, the service moves candidates from signed contract to fully onboarded in two to five days, and removes the need for businesses to incorporate entities in every market where they want to employ staff.
Because payroll runs through the Revolut Business account, customers get access to interbank FX rates (within plan allowances and market hours), which Revolut says can save businesses thousands on international salary payments compared with traditional EOR providers that apply their own FX markup.
Why now
Revolut cites internal research showing that 27% of UK businesses say local compliance requirements are holding them back from expanding internationally. GlobalHire is pitched as a way to remove that "growth tax" - the legal, tax and admin cost of setting up abroad - and let smaller, fast-growing British firms compete for talent on the same footing as larger multinationals.
The launch also fits Revolut's pattern of stacking new product lines onto its business platform. The company says it now has 11 different product lines each generating more than £100m (€132m) in revenue.
Quote from Revolut
Alex Codina, General Manager of Merchant Payments and GlobalHire at Revolut, said: "A business's ambition shouldn't be limited by where it is headquartered, nor by local currency barriers. GlobalHire goes beyond recruitment; it's a strategic asset in a business' arsenal to fuel borderless growth. It's designed to remove administrative friction to hiring for talent obsessed, global firms, while ensuring CFOs maintain control over capital and compliance."
The competitive angle
EOR is a crowded market, but Revolut enters with a sizeable installed base - close to 800,000 business customers - and an existing FX and payments stack that rivals have to partner for. By bundling EOR into the same account companies already use for banking, cards and expenses, Revolut is betting that integration and FX economics will be enough to pull customers away from standalone providers.
About Revolut Business
Revolut Business is the business banking arm of Revolut, serving close to 800,000 customers globally. It offers multi-currency accounts, international payments, cards, expense management, and now Employer of Record services via GlobalHire.
