Our verdict
Multiplier is an international Employer of Record (EOR) platform, allowing companies to hire employees and contractors anywhere in the world. Multiplier features an intuitive SaaS platform, multiple options for employee payments and benefits, and a fully compliant international hiring solution.
Pros
- Full pricing transparency
- Unique payment and compensation options including crypto and ESOPs
Cons
- Currently no payroll-only offer available
- Lacks some of the HRIS features of other providers
120+
$300 per employee
ACH and SWIFT/Wire Transfer
Multiplier, founded in just 2020, has already been recognized as a powerful and competitive Global Employer Of Record (EOR) service and software platform.
An EOR enables companies to hire employees through a contracted third-party, rather than directly. The employee technically works for the EOR, which is responsible for all tax filing and payments, and other compliance issues. All work is directed by the business client of the EOR, who pays salaries and other expenses.
Global EORs allow this to be done internationally; employers and employees may be based in and/or tax residents of nearly any nation, and still compliantly work together across international borders. Global EORs and similar services have been used for years by large multinational corporations, though recently they have become popular with startups and IT companies looking to hire cost-effective and highly trained professionals as part of a remote workforce
Multiplier offers an easy-to-use software platform, a strong network of legal entities around the world, and simple, transparent pricing, but is it right for all businesses? Join us for an in-depth look at Multiplier to determine whether it is the right fit for you and your business.
Overview
Multiplier aims to “rebalance the supply and demand of global employment” through its mission “to streamline the process of borderless employment, providing equal opportunities for people all over the world.” Along these lines, it seems directed mainly towards startups and small to medium size companies that operate partially or wholly through remote international teams.
While some other Global EOR service providers offer custom services for large companies employing a mix of EOR and non-EOR employees in manufacturing and other complex industries, Multiplier is more focused on providing simple, nimble solutions for startups that rely on internationally distributed professional teams.
Key Features
Employer of Record (EOR)
With Multiplier, employees can be hired easily and compliantly from over 150 countries. Business owners are free to hire any employee they wish, using the recruitment service of their choice. Winning candidates are then given an onboarding link to the Multiplier platform, which will lead them through the entire process following compliance regulations in their country.
Multiplier has employment contract templates ready for every jurisdiction and will generate a unique contract for each employee to sign upon acceptance. The same system allows for simple onboarding and contract generation for freelancers as well.
New hires can be onboarded as quickly as 24 hours; the average time between an offer and a signed contract is just 72 hours.
The platform provides easy access to all freelancer expenses, timesheets, and invoices as well. This will be helpful to businesses hiring many freelancers in different countries, greatly reducing tracking, management, and payment processing times.
How the Multiplier EOR solution works
Payroll
All payroll, tax filing, and tax payments are handled by Multiplier and can be processed in over 120 local currencies. Monthly payroll is listed both in local currencies and USD to enable simple review by employers.
All salaries and employee costs are covered in a single invoice each month, to enable easy and timely processing. International freelancer invoices are also consolidated every pay cycle, allowing payment in various local currencies through a simple one-click process. Payments may be made with the employer’s currency of choice and Multiplier will convert funds to the appropriate currency for each employee or contractor.
The service also supports payments in cryptocurrency; freelancers and employees (where local regulation allows) may request payment in the cryptocurrency of their choice, and employers may also settle invoices through their cryptocurrency wallets. Multiplier will handle the conversion between cryptocurrencies and fiat currencies the same as it exchanges between national currencies.
Since it is just as important to reward exceptional performance for remote teams as it is for those based in an office, Multiplier enables bonuses and allowances to be paid directly through the same platform as payroll.
Human Resources
Multiplier advertises cost-effective insurance specific to each nation, meeting both local and global standards. All insurance details can be viewed on the Multiplier platform, making it simple for employers to keep track of their employees’ benefits and coverage.
Some employers may wish to provide their remote employees with laptops or other specific computer hardware that they need to complete their job. Multiplier simplifies this process by allowing IT hardware to be ordered and shipped directly to employees in over 50 countries. Employers can select the hardware they wish from the online catalog, or request a specific piece if the one they need is not available. All shipping and logistics are handled by Multiplier, which bills employers directly.
Benefits are available for contractors and freelancers as well. This will be very helpful for businesses wishing to offer a competitive package, but do not have enough work to justify hiring a full-time employee.
Compliance
Multiplier helps employers create multilingual contracts, so both parties can have a full understanding of the working relationship. The service complies with local labor laws and responds quickly to any changes in those laws. It also ensures full compliance with national tax laws in every region.
Multiplier works with over 100 legal experts, covering all areas of the world in which they operate. These experts both keep Multiplier compliant and are on hand for consultation with business owners.
The line dividing an employee and a freelancer changes in each jurisdiction, and it is important to avoid misclassification in order to reduce compliance risks. To this end, Multiplier offers an assessment tool for business owners, to help them determine whether a new hire should be classified as a freelancer or as an employee.
Platform
The Multiplier platform was awarded Easiest To Use, and Leader status in 2022 by G2’s Grid Report. It also won Gold for Best HR Tech – Talent Management System in the 2022 HRM Asia Reader’s Choice awards. Capterra awarded it Best Ease of Use in 2022, as well.
The platform has been recognized for the value it brings to employers, but employees can make good use of it also; it allows them easy access to expense reports, time off tracking, information on benefits plans, and bonuses. Contractors and freelancers can use the platform to submit invoices and request payments, which employers then review, accept, or reject and request additional information.
When a remote team involves many nationalities, holidays and time off can become confusing and hard to keep track of. To help make planning easier and ensure that there are no unexpected surprises, the Multiplier platform features a holiday calendar, which allows the international team to plan their time off in advance and in a coordinated manner.
Pricing
Multiplier features a simple and transparent pricing scheme. All EOR, payroll, and other services for a full-time employee are available for $300 per month, while freelancer or contractor processing is just $40 per month.
Pros and Cons
Multiplier Pros
Benefits of engaging Multiplier as your EOR include:
- User-friendly platform — as a ‘platform-first’ EOR, Multiplier is an intuitive software solution enabling both client companies and employees to easily check and review employee data and payment matters. The accompanying app makes it straightforward to manage time-off requests, review timesheets, and approve employee expenses
- Contractor management and payment capability, enabling companies to hire and pay contractors anywhere in the world
- Regional expertise, with specific support for companies looking to hire in south-east and south Asia
- Cryptocurrency payment capability, an option offered by few other EORs
- Transparent and relatively low prices starting from $300 USD per employee per month.
Multiplier Cons
While currently standing out for its core EOR solution, it currently does not provide a payroll-only solution for businesses with their own entity. It also lacks some of the more extensive HRIS features, such as employee training, offered by some other global EORs.
Unique Selling Point
Multiplier is one of the few EORs that supports businesses issuing Employee Stock Ownership Plans (ESOP) to global employees. Contracts with ESOP particulars can be generated within minutes, with clients deciding on key terms including the exercise price, vesting period, plan rules and liquidity requirements.
With this in mind, RemotePad judged Multiplier the best employer of record for employee stock plans.
RemotePad Score for Multiplier
4.3/5 Our expert score for Multiplier
Our team came to this score by considering the following components in the following weightings:
| Employer of Record features | 25% |
| Payroll features | 10% |
| HR features | 10% |
| Compliance features | 10% |
| Platform features | 10% |
| Pricing | 20% |
| User reviews | 15% |
For each component, Multiplier received the following score:
| Employer of Record features | 21/25 |
| Payroll features | 9/10 |
| HR features | 7/10 |
| Compliance features | 8/10 |
| Platform features | 10/10 |
| Pricing | 18/20 |
| User reviews | 13/15 |
Multiplier Competitors
Velocity Global vs Multiplier
Top provider for:
US coverage (all 50 states)
Monthly fee per employee
Custom Pricing
Remote vs Multiplier
Top provider for:
Direct EOR solutions
Monthly fee per employee
From $599+
Deel vs Multiplier
Top provider for:
Compliance
Monthly fee per employee
From $599+
Multiplier — final take
If you are a smaller company or a startup with a completely remote, international team, you will get the most out of Multiplier. Its easy-to-use platform can serve as a one-stop hiring solution (so long as all employees are hired via the Multiplier EOR), considerably lightening the workload for staff in head office.
FAQ
Multiplier has had three funding rounds through 2021 and 2022 to a total of $77. 2M consisting of:
- Series B — $60M on Mar 8, 2021
- Series A — $13.2M on Nov 1, 2021
- Seed Round — $4M on July 14, 2021.
Multiplier was established in Singapore, but operates throughout the world.
The Multiplier founders are Amritpal Singh, Sagar Khatri, Vamsi Krishna.
