Colombia-based Ontop wants to be a company’s tax, onboarding and payroll manager for its international teams. It is now buoyed by $4.5 million in seed funding. Point72 Ventures led the investment and was joined by Funders Club, ClockTower Technology Ventures, H2O Capital, Magma Partners, SOMA Capital and Supernode, as well as angel investors.
“We were born in the middle of the pandemic when remote work was exploding and evolving in ways where emerging countries become clusters of talent for developing markets,” Santiago Aparicio, co-founder and CEO said. “We have been seeing this for a while in countries like Colombia and Argentina, and it is here to stay. International hiring is happening, but it is not connecting people hired for talent. There are still local regulations and currency divergences. We built Ontop so that someone can hire and pay someone with a click of a button.”
Ontop intends to use the new funding to roll out additional payments and banking capabilities for contractors in the region, including the option to maintain account balances in different currencies.