How UK-based Native Teams is aiming to simplify international payments and employment for Indian freelancers

Freelancing and remote work are booming in today's fast-paced digital world. The freedom to set your own schedule, choose diverse job opportunities, and work from anywhere has attracted many to this lifestyle. However, it's not without its challenges.

Freelancers and remote workers often struggle with timely and cost-efficient payments. International transactions can be slow and expensive, affecting cash flow and financial stability. Additionally, securing proper employment status is crucial for accessing benefits and maintaining compliance with local laws.

Freelancers dealing with clients from different countries face the hassle of handling multiple currencies, which can be both time-consuming and costly. These interconnected issues create a complex web of financial and legal challenges that need a comprehensive solution.

Addressing these issues, Jack Thorogood founded Native Teams in the UK in 2020. The platform was born out of the necessity to simplify international payments and employment management, empowering freelancers and remote workers globally.

Simplifying international payments

Jack's journey with Native Teams began with his own experiences managing a global team. He noticed how difficult it was to ensure timely, cost-efficient payments and proper employment status for international team members.

Jack envisioned a platform that would address these specific challenges, and thus, Native Teams was born.

The company’s mission is to simplify international payments and employment management, enabling freelancers and remote workers to manage their finances and employment effectively.

Product and offerings

Freelancers and remote workers face several interconnected problems that can disrupt their professional and financial stability. A major issue is managing cross-border payments. Handling multiple currencies, ensuring timely transactions, and avoiding high transfer fees are constant headaches.

Native Teams addresses these through its multi-currency digital wallet, allowing freelancers to manage payments in various currencies, receive cross-border payments, and transfer funds to local bank accounts with minimal fees. This keeps their cash flow steady and hassle-free.

Another significant problem is the complexity of invoicing and payment requests. Freelancers often spend considerable time creating, tracking, and managing invoices, which can delay payments and disrupt their financial planning.

The company’s client invoicing feature addresses this by allowing freelancers to create, track, and send professional invoices globally.

Additionally, the payment request feature helps manage cash flow with one-time or recurring payment requests, ensuring that freelancers can request payments as needed, reducing delays, and improving financial stability.

Another critical challenge is securing proper employment status and legal compliance. Freelancers and small businesses need a formal structure to access benefits, comply with tax regulations, and control profit distribution.

Native Teams facilitates the creation of a UK legal entity for freelancers, startups, and SMBs, offering tax benefits and control over profit distribution. This helps freelancers and small businesses gain a formal structure, which can be crucial for growth and legal compliance.

Managing payroll and employment benefits for remote teams is also complex and burdensome. Native Teams' global payroll and employment service provides official employment status and regular monthly salaries for remote workers, ensuring compliance with local laws and offering the security of formal employment. This enables global teams to operate smoothly and efficiently.

Freelancers also need convenient ways to manage their finances and access their funds. Native Teams' top-up by card feature makes adding funds to the wallet easy through a debit or credit card.

Plus, the platform allows users to withdraw funds directly into their bank accounts, providing quick and easy access to their earnings.

Keeping track of expenses and maintaining organised financial records is crucial for freelancers. Native Teams offers an expense management and categorisation feature, which organises business-related expenses and ensures streamlined financial record-keeping. This tool helps freelancers keep track of their expenses and manage their budgets effectively.

Empowering Indian freelancers

According to Thorogood, the decision to expand into India was driven by several factors, including a large and diverse pool of freelancers, particularly in the IT and digital sectors, which the company believes aligns perfectly with its business goals. 

Additionally, the growing acceptance of remote work in India has created a significant demand for tools that facilitate international payments and employment management.

By expanding into the Indian market, Native Teams aims to provide freelancers with the necessary tools to enhance their employment experience and facilitate their business operations on a global scale.

Adapting to a new market can be challenging, though. It requires understanding local regulations, cultural nuances, and the specific needs of Indian freelancers.

To address these challenges, Native Teams has implemented several strategies, ensuring a smooth transition and effective support for the Indian freelance community.

For example, the company has focused on localising services, which it believes is essential to adapting tools and solutions to meet the unique needs of Indian freelancers. Additionally, it is establishing local partnerships to enhance market presence and provide better support.

Empowering companies through Employer of Record (EOR)

Native Teams doesn't just stop at helping freelancers; it also empowers companies through its Employer of Record (EOR) service.

This service allows businesses to hire and manage international employees compliantly and cost-effectively, handling the legal and administrative complexities of employing staff in foreign countries. The EOR service ensures compliance with local employment laws, simplifying the process of expanding a global workforce.

Additionally, the company’s global payroll services complement the EOR service by ensuring compliant salary processing in local currencies and managing all related taxes and contributions. These services empower businesses to scale their operations quickly and efficiently, ensuring compliance while reducing the administrative burden.

Employing security measures to ensure the safety of payments

Native Teams employs robust security measures, including secure digital wallets and mandatory KYC processes for user registration. The platform complies with financial regulations and local laws by providing localised payroll processing and tax compliance services.

Notably, a team of localised tax consultants, lawyers, and customer support assists customers in ensuring compliance, thus guaranteeing the safety and legitimacy of financial transactions.

Operating in over 70 countries, Native Teams ensures compliance with diverse legal and regulatory requirements. The platform handles all aspects of employment law, taxes, social contributions, and other regulatory requirements for each country. The comprehensive approach helps businesses operate globally without legal complications.

Funding and future plans

In May 2024, Native Teams raised €6.275 million in a funding round led by Eleven Ventures, Fil Rouge Capital, MFG Invest, and Begin Capital. The funds will support product performance enhancements and strategic expansion into the US, India, and the broader Asian region.

Specifically in India, the investment will focus on enhancing local support, increasing the availability of tools and solutions, and further developing the platform to meet the unique needs of the Indian market.

The company believes this will empower more freelancers and small and medium-sized business owners with simplified work payments and employment solutions.

Looking ahead, Native Teams plans for further expansion and innovation. The company aims to enhance local support, improve the availability of tools and solutions tailored to the Indian market, and continue redefining payments for work.