Lano was established in 2018 in response to companies struggling to manage the payroll, compliance, and international payments of their global teams as remote working accelerated worldwide. Lano’s solution was to create a single API platform for businesses looking to expand quickly worldwide by enabling them to access global talent. The Lano platform makes it easy to hire, manage and pay remote workers, contractors, and freelancers with Lano looking after the regulatory issues, taxes, and compliance.
Lano’s initial partnership was with a supplier who only allowed their clients to settle in Euros. This meant that Lano founders Aurel Albrecht and Markus Schuenemann couldn’t offer their clients the truly global service they had envisaged. To ensure companies could seamlessly hire and pay talent based outside their country, they needed to offer them a multi-currency settlement.
This requirement was particularly critical in a post-COVID world, where remote-working has accelerated, and new companies are increasingly remote and global-first. Multinational companies also face the challenge of consolidating payments quickly and seamlessly.
Lano looked for another partner who would help them create a solution that would enable companies to easily hire, manage and pay international talent from anywhere in the world. They needed a partner who would provide access to multiple currencies and a platform that was robust enough to enable companies to make cross-border payments seamlessly.
Lano recognized from the outset that the complexities and expenses associated with cross-border payments were one of the key challenges their clients faced, and any partner they chose would have to solve those challenges.
After assessing several payment service providers, in May 2020 Lano chose Currencycloud because it could offer all the solutions Lano expected from an experienced international payment partner.
Right from the start, Currencycloud’s flexible API payment platform unlocked the global talent pool for Lano’s clients, giving them access to 50 additional countries: they could now make seamless cross-border payments in multiple currencies, paying talent in their favored currencies.
With Currencycloud as their payment partner, Lano has made it easy for companies to connect to worldwide talent, freeing them up to work with industry experts and to grow on a global scale.
“We can only recommend Currencycloud as a partner. The team is extremely capable and responsive, and makes us feel like they have our backs by not only solving problems when they arise but also suggesting potential solutions that would increase the value proposition for our clients.”
Since partnering with Currencycloud, Lano has increased its revenue by a multiple of ten. They can offer their clients access to more than 30 currencies, and a talent pool is drawn from 150+ countries: all managed on one platform.
Since partnering with Currencycloud Lano has enjoyed:
Lano can easily track the status of their clients’ payments, and solving their clients’ issues can be done in record time, with a simple support request from the Currencycloud platform
There are no currency or geographical limits: companies can seamlessly pay talent, and manage cross-border payments to team members in more than 30 currencies. All without having to incur costly FX rates or go through slow and expensive banking processes.
With Currencycloud’s FX options, almost 10% of the costs associated with Currencycloud are covered.
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