In a nutshell
- North Macedonian Native Teams, a work payments platform for freelancers, remote workers, and business owners, has successfully raised a further round of investment totaling €6.275M.
- In the round participated existing investors Eleven Ventures and Fil Rouge Capital and new ones like MFG Invest, Begin Capital, and others.
- The new investment will be utilized in enhancing their financial services platform for better product performance in their key markets. Moreover, it will help the enhancement and expansion of their offering outside the European region, with a strategic focus on the US, India, and the wider Asian region.
Their background story
Native Teams specializes in providing work payment solutions, aiming to help individuals and businesses streamline global remuneration within a centralized platform. Founded in 2020 by Jack Thorogood, and Alex Mitrevska, the company has expanded to over 65 countries with a global team of more than 200 employees across their target markets.
In their own words
“We are delighted to announce the closing of this pre-Series A investment round. It’s a testament to the progress our team have made over the last year as we bring Native Teams’ simplicity and transparency to power work payments of so many more users around the world. We are lucky to have some exceptional, like-minded investors join us on our journey to advance and update remuneration for the new world of work,” shared Alex Mitrevska, Chief Evangelist and co-founder of Native Teams.
“The market opportunity ahead of us is probably the biggest sector imaginable: redefining payments for work. This funding round lets our capital-efficient business take the next important steps as we serve ever-broader market segments, to a greater extent, and in a growing number of countries,” explained Jack Thorogood, CEO and founder of Native Teams.
Investor’s perspective
“Imagine that you want to work for a US company from Hungary as a developer. Or that you want to hire five Australian designers for your Norwegian company. Even in the era of globalization, internet access and even AI, bureaucracy is still slowing down potential. Native Teams help people break artificial boundaries while staying compliant. It does the heavy administrative lifting and lets you focus on what matters – your actual work. We strongly believe in people’s potential, and this is why we decided to invest in Native Teams,” said Simeon Iliev, MFG Invest.
