Introduction

Litmatch, the fast-growing social app for Gen Z, is on a mission to connect young people around the world through its innovative platform. Founded in 2019 in Shanghai, the company has experienced rapid growth, raising over $100 million in venture capital funding to date.

As Litmatch sets its sights on expanding into the promising Southeast Asia market, it has partnered with PayInOne, a leading global employment and payroll management platform. PayInOne is providing critical support to help Litmatch compliantly hire, onboard and pay hundreds of contractors and employees across multiple countries in the region.

The Challenge: Navigating Complex Employment Landscapes

As Litmatch began executing on its Southeast Asia strategy, the company quickly encountered challenges in hiring and managing talent in new markets. Each country has its own unique labor laws, tax codes, and cultural norms that need to be navigated.

Some of the key issues Litmatch faced included:

• Classifying workers as employees vs. contractors based on local regulations
• Setting up compliant employment contracts in multiple languages
• Calculating and processing payroll in various currencies
• Adhering to statutory requirements around taxes, benefits, leave policies, etc.
• Performing background checks and ensuring work eligibility
• Maintaining detailed records for each worker for compliance purposes

Tackling this complex web of requirements would have required significant investments in local HR and legal expertise. It also would have slowed down Litmatch’s hiring plans considerably. The company needed a more efficient and scalable solution.

The Solution: PayInOne’s Comprehensive Contractor Management Services

To solve these challenges, Litmatch turned to PayInOne and its suite of global employment and contractor management solutions. PayInOne offers a range of services tailored for companies like Litmatch who are rapidly expanding their international presence.

Streamlined Onboarding

PayInOne has dramatically accelerated Litmatch’s hiring process in Southeast Asia. Through PayInOne’s intuitive SaaS platform, Litmatch can quickly and compliantly onboard new contractors and employees in just a few clicks.

PayInOne handles all the details, including:

• Drafting locally-compliant contracts in 20+ languages
• Collecting necessary tax forms and IDs
• Performing anti-money laundering and criminal background checks
• Verifying work eligibility and permits
• Setting up compliant payroll based on worker classification

Flexible Contract Types

Litmatch relies heavily on contractors to fuel its growth. PayInOne supports a wide variety of flexible contract types to fit Litmatch’s needs:

• Pay-as-you-go contracts for short-term or irregular work, where contractors are paid based on hours or deliverables
• Retainer contracts for ongoing work, with regular weekly or monthly payments
• Milestone-based contracts, where payments are tied to achieving specific performance targets or KPIs

This flexibility allows Litmatch to engage talent in ways that align with its business objectives and cash flows.

Localized Compliance Expertise

A core benefit of partnering with PayInOne is tapping into their deep expertise in multi-country labor laws and regulations. PayInOne ensures Litmatch remains in compliance in all markets by:

• Monitoring evolving local labor requirements and proactively making any necessary contract updates
• Properly classifying all workers and only engaging them in legally allowed capacities
• Filing all required tax withholdings and contributions to local authorities
• Administering statutory benefits like social security, health insurance, pensions, etc.
• Maintaining required records and providing compliance reports

With PayInOne handling the complexities of local compliance, Litmatch can focus on its core business goals with confidence.

Simplified Global Payments

Another key value-add from PayInOne is its global payment capabilities. Through a single platform, Litmatch can pay all its contractors and employees in 180+ countries in 120+ local currencies.

PayInOne streamlines the entire payment process:

• Contractors submit invoices and employees report time/deliverables in the PayInOne platform
• Managers review and approve the billable amounts in their dashboard
• Funds are collected from Litmatch and disbursed to each worker’s local bank account
• Detailed payslips are automatically generated showing gross pay, deductions, taxes, etc.
• Real-time payments allow workers to access funds immediately

PayInOne’s global payment network, powered by leading financial institutions, ensures payments are fast, cost-effective and secure. Litmatch can make mass payments with just a few clicks.

Risk-Free Employer of Record Services

In cases where Litmatch wants to hire full-time employees, PayInOne also offers global Employer of Record (EOR) services. Under this model, PayInOne acts as the legal employer, while the worker performs their daily duties for Litmatch.

Key benefits of the EOR model include:

• Faster hiring by using PayInOne’s existing local entities, without setting up foreign subsidiaries
• Minimized compliance risks, as PayInOne takes on all employment liabilities
• Reduced costs compared to establishing and maintaining international operations
• Ability to test new markets before making long-term commitments

With PayInOne as the EOR, Litmatch can compliantly employ full-time staff in Southeast Asia without taking on employer risks or administrative burdens. This helps Litmatch build out its regional presence quickly and nimbly.

The Results: Rapid, Compliant Southeast Asia Expansion

By partnering with PayInOne, Litmatch has been able to achieve its ambitious Southeast Asia growth plans while navigating the region’s complex labor regulations. PayInOne’s comprehensive employment solutions have delivered significant benefits:

• Speed: Litmatch has onboarded 250+ contractors across 6 countries within the first 10 months
• Efficiency: Litmatch estimates 50+ hours per month saved on cross-border hiring and payroll admin
• Cost Savings: ~20% reduction in employment costs due to PayInOne’s economies of scale
• Compliance: 100% of Litmatch’s engagements are locally compliant and risk-free
• Satisfaction: 95%+ of Litmatch contractors report being paid accurately and on-time

By tapping into PayInOne’s localized expertise, innovative technology, and robust global infrastructure, Litmatch has been able to scale its Southeast Asia workforce at unprecedented speed. PayInOne’s solutions ensure Litmatch remains agile and compliant as it builds out its regional operations.

As Litmatch eyes further expansion opportunities in Asia and beyond, the company will continue to leverage PayInOne’s global employment solutions as a competitive advantage. With PayInOne in its corner, Litmatch is well-positioned to achieve its vision of becoming the leading social networking platform for young people worldwide.

“Collaborating with PayInOne has revolutionized our payroll processes, greatly boosting employee satisfaction. Their all-inclusive platform simplifies the intricate task of managing global talent, enabling us to scale confidently. PayInOne is an indispensable partner in our growth journey.”

• Lele Ju, CEO of Litmatch