Global segment ranking · Business software › HR

The world’s most valuable payroll startups

Payroll software, global payroll and employer-of-record platforms, contractor payments and all-in-one HR suites whose core product is payroll. Ranked worldwide by AI-estimated valuation. The market sets the value; our AI estimates it.

Edition 0 (beta) · Published September 29, 2026 Twice a yearNext edition: January 1, 2027· Claude · multi-AI consensus in a future edition· Published method· Order never changed by a human

Declare an interest in Payroll

Key metrics for this segment: revenue / arr, customers, profitability. Figures as published by each company or the press, dated, not recalculated. The AIs weigh them alongside funding history and comparables.

Not in this segment. Recruiting and talent management (core HRIS, performance, engagement, learning) each have their own segment; spend management and benefits insurance are ranked under Fintech. A company appears in one segment only. Method

The segment at a glance

15companies ranked

9companies on the radar

8countries in the ranking

5listed benchmarks

Sources: CNBC, TechCrunch, Calcalist (Ctech), Crowdfund Insider, Maddyness, Sacra, Multiples.vc, LatamList, Startup Daily, Inc42, Staffing Industry Analysts, Fintech Global, Wikipedia, company announcements. Intention counters will be shown above a threshold of amount and number of Backers.

Rankings by region

Filter the ranking and the Radar. Ranks stay worldwide.

Global ranking · Payroll

Top 15 Radar Challengers

First edition: no movements yet.

World · 15 ranked companies

#	Company	Last round · Key metrics	Estimated valuation (AI, order of magnitude)	Confidence
1	DeelUnited States · North AmericaSources: 1 · 2Is this your company? Report an error	Series E · USD 300M · Oct 2025Revenue / ARR $1.5B+ ARR · Customers: n/d · Profitability: n/d · H1 2026	Last known equity round: Series E · USD 300M · Oct 2025 (co-led by Ribbit Capital and Andreessen Horowitz) Published valuation: USD 17.3bn (Oct 2025) Confidence index: HighMethod	Solid sources
2	RipplingUnited States · North AmericaSources: 1 · 2Is this your company? Report an error	Series G · USD 450M · May 2025Revenue / ARR $1B annualized revenue (Mar 2026) · 20,000+ customers (May 2025) · Not yet profitable (2026)	Last known equity round: Series G · USD 450M · May 2025 (led by Dragoneer Investment Group) Published valuation: USD 16.8bn (May 2025) Confidence index: HighMethod	Solid sources
3	GustoUnited States · North AmericaSources: 1 · 2Is this your company? Report an error	Series E · USD 175M · Aug 2021Revenue / ARR $1B+ revenue (trailing 12 months) · Customers: n/d · Cash-flow positive · May 2026	Last known equity round: Series E · USD 175M · Aug 2021 (led by Fidelity) Published valuation: USD 9.3bn (employee tender offer) (Jun 2025) Confidence index: HighMethod	Solid sources
4	Papaya GlobalIsrael · Middle East & North AfricaSources: 1 · 2 · 3Is this your company? Report an error	Series D · USD 250M · Sep 2021Revenue / ARR $100M+ revenue (about $200M projected for 2025) (FY2024) · Customers: n/d · Profitability expected in 2025 (FY2025)	Last known equity round: Series D · USD 250M · Sep 2021 (led by Insight Partners and Tiger Global) Published valuation: USD 3.7bn (Sep 2021) Confidence index: MediumMethod	Partial sources
5	RemoteNetherlands · EuropeSources: 1 · 2Is this your company? Report an error	Series C · USD 300M · Apr 2022Revenue / ARR $300M+ ARR · Customers: n/d · Cash-flow positive · May 2026	Last known equity round: Series C · USD 300M · Apr 2022 (led by SoftBank Vision Fund 2) Published valuation: USD 3bn (Apr 2022) Confidence index: MediumMethod	Partial sources
6	G-P (Globalization Partners)United States · North AmericaSources: 1 · 2Is this your company? Report an error	Growth investment · USD 200M · Jan 2022Revenue / ARR About $1B ARR (Jan 2022) · Nearly 30% customer growth YoY (FY2025) · Profitability: n/d	Last known equity round: Growth investment · USD 200M · Jan 2022 (Vista Credit Partners) Published valuation: USD 4.2bn (Jan 2022) Confidence index: LowMethod	Weak sources
7	Employment HeroAustralia · Asia-PacificSources: 1 · 2Is this your company? Report an error	Series F · AUD 263M · Oct 2023Revenue / ARR $163M ARR (Jan 2025) · 300,000+ businesses (2025) · Profitability: n/d	Last known equity round: Series F · AUD 263M · Oct 2023 (led by TCV) Published valuation: AUD 2bn (Oct 2023) Confidence index: MediumMethod	Partial sources
8	JustworksUnited States · North AmericaSources: 1 · 2Is this your company? Report an error	Series E · USD 50M · Jan 2020Revenue / ARR $982.7M revenue (gross, incl. benefits) · Customers: n/d · Profitability: n/d · FY2021	Last known equity round: Series E · USD 50M · Jan 2020 (led by Union Square Ventures and FirstMark Capital) No confirmed published valuation Confidence index: LowMethod	Weak sources
9	BukChile · Latin AmericaSources: 1Is this your company? Report an error	Series B · USD 50M · Jan 2025Revenue / ARR: n/d · 7,000+ companies; 1.5M employees · Profitability: n/d · Jan 2025	Last known equity round: Series B · USD 50M · Jan 2025 (led by Headline, with Workday, Greenoaks, Endeavor Catalyst) Published valuation: USD 850M (Jan 2025) Confidence index: HighMethod	Solid sources
10	OysterUnited States · North AmericaSources: 1 · 2Is this your company? Report an error	Series D · USD 59M · Sep 2024Key metrics not disclosed	Last known equity round: Series D · USD 59M · Sep 2024 (not confirmed here; ServiceNow Ventures joined in Nov 2024) Published valuation: USD 1.2bn (Sep 2024) Confidence index: MediumMethod	Partial sources
11	Pebl (formerly Velocity Global)United States · North AmericaSources: 1 · 2Is this your company? Report an error	Series B · USD 400M · May 2022Key metrics not disclosed	Last known equity round: Series B · USD 400M · May 2022 (led by Eldridge and Norwest Venture Partners) No confirmed published valuation Confidence index: LowMethod	Weak sources
12	PayFitFrance · EuropeSources: 1 · 2Is this your company? Report an error	Series E · EUR 254M · Jan 2022Revenue / ARR €80M ARR · 22,000 customers · Profitable · 2026	Last known equity round: Series E · EUR 254M · Jan 2022 (led by General Atlantic) Published valuation: USD 2.1bn (Jan 2022) Confidence index: MediumMethod	Partial sources
13	MultiplierSingapore · Asia-PacificSources: 1Is this your company? Report an error	Series B · USD 60M · Mar 2022Revenue / ARR $100M+ ARR (company claim) · Customers: n/d · Profitability: n/d · Sep 2025	Last known equity round: Series B · USD 60M · Mar 2022 (led by Tiger Global) No confirmed published valuation Confidence index: LowMethod	Weak sources
14	WarpUnited States · North AmericaSources: 1 · 2Is this your company? Report an error	Series B · USD 60M · Jun 2026Revenue / ARR ARR doubled in Q1 · Customers: n/d · Profitability: n/d · Q1 2026	Last known equity round: Series B · USD 60M · Jun 2026 (led by Battery Ventures, with Peak XV and Y Combinator) No confirmed published valuation Confidence index: MediumMethod	Partial sources
15	KekaIndia · Asia-PacificSources: 1 · 2 · 3Is this your company? Report an error	Series A · USD 57M · 2022Revenue / ARR ₹130 Cr+ revenue (2026) · 10,000+ organisations (2026) · Loss-making (losses up 2.8x) (FY2024)	Last known equity round: Series A · USD 57M · 2022 (WestBridge Capital) No confirmed published valuation Confidence index: LowMethod	Weak sources

Ranking in descending order of AI-estimated valuation, based on public information, following a published method, with no human intervention on the order. Valuation ranges are indicative editorial estimates: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Edition 0: produced by Claude (Anthropic); a consensus of several AI models will apply in a future edition. Eligibility: at least $1M raised including one equity round, non-listed company, main activity in this segment (payroll software, global payroll, employer of record and contractor payments). Country shown is the country of main operations. Request a correction

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How to read this ranking

Rank

Companies are ranked by AI-estimated valuation, highest first. The market sets the value; our AI estimates it.

Range

An order of magnitude, never a figure.

Hundreds of k$
Millions $
Tens of M$
Hundreds of M$
Unicorn
Decacorn

Confidence

High: recent published valuation or round (under 24 months).
Medium: older data.
Low: single or unconfirmed source.

Full method →

Invest in payroll, together

Uback aggregates investment intentions from business angels, family offices, corporates and sector specialists worldwide. Every ranked company already has professional investors on its cap table, who have negotiated a shareholders’ agreement: you don’t start from a blank page.

Strength in numbers

Alone, a small ticket opens no doors. Together, Backers carry weight.

Declare an interest

In this segment, with a ticket range, and if you wish a preferred company in it. Paid, to show you are serious; valid for life, and movable to another pool until its pool is passed to the partner.

Critical mass is reached

When the pool’s combined amount reaches its critical mass, a floor amount estimated by the AI, the pool is passed to the licensed partner, who presents this demand to the company.

The licensed partner structures

If the company’s expectations and the Backers’ converge, the partner builds a transaction and presents it directly to the Backers concerned.

Closing

Capital raise or sale of existing shares: small tickets are pooled in a common vehicle set up by the licensed partner. Each Backer decides whether to take part.

Uback does not advise, does not negotiate, collects nothing. Each transaction is run by the licensed partner of the company’s country, under the law that governs its shares.

Get notified when intentions open What happens after my declaration? Intention declarations open once the licensed partner signs · price per ticket band · valid for life · movable until the pool is passed on

Challengers

A registered company raising funds that is not in the ranking will be able, for a fee, to appear in a separate list labelled “Challengers”, for a set period, with a memo available to verified Backers. The listing has no effect on the ranking. Not open yet.

Sponsored space · no Challenger listed yet

Radar · known eligible companies, not ranked

Sorted by date of last round, with no judgement and no AI call.

Salsa · United States · North AmericaApr 2025 · USD 20M
Workpay · Kenya · Sub-Saharan AfricaAug 2024 · USD 5M
Remofirst · United States · North AmericaMar 2024 · USD 25M
Borderless AI · Canada · North America2024 · USD 27M
Sprout Solutions · Philippines · Asia-PacificApr 2023 · USD 10.7M
Toku · United States · North AmericaMar 2023 · USD 20M
Ontop · Colombia · Latin America2023 · USD 10M
Bayzat · United Arab Emirates · Middle East & North AfricaAug 2022
Check · United States · North AmericaFeb 2022 · USD 75M

Listed benchmarks

Not ranked: no intention is possible on a listed company.

ADP · United StatesNASDAQ · ADP
Paychex · United StatesNASDAQ · PAYX
Paycom · United StatesNYSE · PAYC
Paylocity · United StatesNASDAQ · PCTY
TriNet · United StatesNYSE · TNET

Sources and method for this segment

Calendar. Global segment rankings are published twice a year. Next edition: January 1, 2027.

Eligibility. At least $1M raised including one equity round, non-listed company, main activity in this segment (payroll software, global payroll, employer of record and contractor payments). A company appears in one segment only.

Sources. CNBC, TechCrunch, Calcalist (Ctech), Crowdfund Insider, Maddyness, Sacra, Multiples.vc, LatamList, Startup Daily, Inc42, Staffing Industry Analysts, Fintech Global, Wikipedia, company announcements.

Method and rules, common to all rankings →