Native Teams Launches 'Gig Pay,' Automating Global Gig-Economy Compliance and Payments
LONDON, June 12, 2025 (GLOBE NEWSWIRE) -- Native Teams, the global platform for work payments, unveils Gig Pay, the end-to-end automated payroll and wallet solution engineered to turn compliance deadlines into growth drivers. As global gig economy payouts approach €1 trillion and Europe alone topped €556.7 billion in 2024, set to triple by 2033, platforms face a tidal wave of new regulations all across the world. It enables gig workers to access traditional banking services, credit, and financial products — areas where freelancers and gig workers have historically been underserved. This is a development for financial institutions, regulators, and the millions of workers whose livelihoods depend on the gig economy.
'Manual pay runs and ad-hoc spreadsheets are extinct in the face of today's regulatory maze,' said Jack Thorogood, CEO of Native Teams. 'Whether you're adapting to the EU's Platform Work Directive or contractor laws in California or Brazil, Gig Pay provides a single place to onboard at scale, deploy locally compliant contracts, run multi-jurisdiction payroll, and pay gig workers instantly to their wallets.'
Regulation meets automation
In December 2024, the EU's Platform Work Directive introduced a presumption of employment, algorithmic transparency requirements and quarterly workforce reporting, leaving platforms scrambling to avoid fines of up to €1 million per breach.
In the U.S., the Labour Department's January 2025 rule narrowed 'independent contractor' definitions, increasing back-pay risk for non-compliant operators. Latin American jurisdictions from Brazil to Mexico have enacted new telework and social security mandates, while Asia-Pacific markets roll out digital nomad visas and subsidies for gig workers.
Simplified experience for aggregators & workers
Gig Pay lets aggregators bulk-import driver or contractor data via CSV, deploy smart, locally compliant contracts with e-signatures, and process earnings from multiple gig platforms into one streamlined payroll run. Customisable fee structures and batch transfers eliminate manual errors, while real-time dashboards deliver actionable insights.
For gig workers, the mobile-first app consolidates earnings from Uber, Bolt, Glovo, Wolt and others, offers instant partial withdrawals to virtual or physical Native Teams cards, and generates invoices automatically. Built-in KYC, sick leave requests and an in-app help centre ensure a frictionless user journey, leading to stronger worker retention.
After 13 months of development and piloting in different regions Gig Pay is now available in over 30 countries across Europe, North America, Latin America, and Asia-Pacific. To schedule a demo call or learn more, visit www.nativeteams.com/gig-economy-platforms.
Pilot case study
Early adopters are already reaping the benefits. Hypefy, an AI-powered influencer-marketing platform, transitioned from manual PayPal and wire transfers to Gig Pay. The results speak for themselves:
Reduced administrative time by 300%, allowing rapid global scaling without expanding the finance or legal team.
Expanded operations from 1 to 28 countries across Europe and the U.S., with just one person managing all contractor payments.
Improved worker satisfaction and retention through transparent, instant payments.
'Native Teams enabled us to scale globally - something we couldn't have achieved without them. Worker satisfaction significantly improved due to transparency and instant payments. Compliance risks were minimised across all regions,' said Filip Spiranec, Hypefy's co-founder, underscoring how automation can defuse compliance risks while accelerating growth.
About Native Teams
Native Teams is a global platform for work payments and employment designed to support both businesses and their teams. Beyond Employer of Record services, it offers flexible, fully compliant hiring, payroll, and multi-currency payment solutions, including simplified payments for gig economy workers. By simplifying global employment and maximising value per dollar spent, Native Teams enables businesses to scale efficiently while empowering international teams with financial stability.
With operations in 85+ countries and support for over 1,500 companies worldwide, Native Teams makes global employment simple, compliant, and people-centric. The platform provides international employees with secure payments, local benefits, and financial flexibility so they can focus on doing their best work.
Media Contacts:
Ira TatevosyanPR & Communications, Native Teamspr@nteams.comit@beglobe.tech
This content is provided by Native Teams. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or business advice. All investments carry inherent risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any inaccuracies, misrepresentations, or financial losses resulting from the use or reliance on the information in this press release. Speculate only with funds you can afford to lose. In the event of any legal claims or concerns regarding this article, we accept no liability or responsibility.
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We are carefully managing costs while strategically investing in growth areas such as customer acquisition, technology re-platforming, and advanced data infrastructure. 'As a direct result of expanding gross margins and reduced operating expenses, net loss narrowed substantially to US$(2.4) million this quarter from US$(13.1) million during the same period last year—a significant improvement of over US$10 million. Adjusted EBITDA loss also improved markedly, narrowing from US$(6.4) million to US$(3.3) million year-over-year, underscoring our clear trajectory toward sustainable profitability. 'Looking ahead, we expect Adjusted EBITDA to improve throughout 2025, supported by steadily expanding margins and sustained operational efficiency. We remain confident in our ability to achieve positive Adjusted EBITDA in the later part of the year. Our strong cash position and disciplined investment strategy will ensure we remain focused on profitable growth and delivering sustained value to our shareholders.' First Quarter 2025 Financial Highlights Revenue decreased by 35% year-over-year to US$14.3 million in the first quarter of 2025, reflecting a strategic shift toward diversifying revenue mix to enhance revenue quality and the high base effect set during the same period last year with significant marketing and customer acquisition spending in the credit card vertical to expand market share. Revenue from insurance products increased by 4% year-over-year to US$1.9 million in the first quarter of 2025, accounting for 13% of total revenue, compared to 8% during the same period last year. Revenue from wealth products increased by 20% year-over-year to US$1.7 million in the first quarter of 2025, accounting for 12% of total revenue, compared to 6% during the same period last year. Cost of revenue decreased by 55% year-over-year to US$6.4 million and accounted for 44% of revenue, a decrease of 20 percentage points from 64% during the same period last year, reflecting improved gross margins through rewards costs optimization. Total operating costs and expenses, excluding net foreign exchange differences, decreased to US$18.3 million in the first quarter of 2025 from US$30.4 million during the same period last year. This reduction was driven by more targeted and cost-efficient marketing campaigns, combined with strategic streamlining of technology costs to simplify workflows, and a comprehensive HR cost restructuring initiative. Net loss for the period narrowed sharply to US$(2.4) million during the first quarter of 2025, compared to US$(13.1) million in the same period last year, supported by lower operating costs as well as lower non-operating expenses including foreign exchange differences and changes in fair value of financial instruments. 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First Quarter 2025 Operational Highlights Monthly Unique Users for the three months ended March 31, 2025, of 5.7 million MoneyHero Group Members, to whom the Company provides more tailored product information and recommendations, grew by 38% year-over-year to 8.1 million as of March 31, 2025 MoneyHero sourced 399,000 applications and had 155,000 approved applications in the first quarter of 2025 Capital Structure The table below summarizes the capital structure of the Company as of March 31, 2025: Share Class Issued and Outstanding Class A Ordinary 29,949,1931 Class B Ordinary 13,254,838 Preference Shares 2,407,575 Total Issued Shares 45,611,606 Employee Equity Options 618,7172 Issued Class A Ordinary Shares Underlying Employee Equity Options (618,717)3 Total Issued and Issuable Shares4 45,611,606 _____________________________________1 Includes 618,717 shares issued to Computershare Hong Kong Investor Services Limited ('Computershare') which are held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder. 2 Includes granted but unexercised options as well as exercised options, pursuant to which the shares have not yet been issued as of March 31, 2025.3 Issued in advance to Computershare and held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder. 4 Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of the money. Summary of financial / KPI performance For the Three Months Ended March 31, 2025 2024 (US$ in thousands, unless otherwise noted) Revenue 14,314 22,175 Adjusted EBITDA (3,309 ) (6,440 ) Clicks (in thousands)5 2,081 N/A Applications (in thousands)6 399 495 Approved Applications (in thousands)6 155 206 Revenue breakdown For the Three Months Ended March 31, 2025 2024 US$ % US$ % (US$ in thousands, except for percentages) By Geographical Market: Singapore 5,084 35.5 8,944 40.3 Hong Kong 6,396 44.7 7,716 34.8 Taiwan 1,054 7.4 1,402 6.3 Philippines 1,779 12.4 3,979 17.9 Malaysia - - 133 0.6 Total Revenue 14,314 100.0 22,175 100.0 By Source: Online financial comparison platforms 12,638 88.3 18,058 81.4 Creatory 1,676 11.7 4,117 18.6 Total Revenue 14,314 100.0 22,175 100.0 By Vertical: Credit cards 8,173 57.1 15,426 69.6 Personal loans and mortgages 2,495 17.4 3,297 14.9 Wealth 1,663 11.6 1,387 6.3 Insurance 1,892 13.2 1,827 8.2 Other verticals 91 0.6 239 1.1 Total Revenue 14,314 100.0 22,175 100.0 _____________________________________5 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable click data for this period following the transition. Please refer to the section titled 'Key Performance Metrics and Non-IFRS Financial Measures' for more information regarding the change in methodology.6 Due to the nature of our business, there is often a delay in receiving confirmation of the number of Applications and Approved Applications by our commercial partners. As a result, the disclosed figures may utilize estimations if data is unavailable. Key Metrics For the Three Months Ended March 31, 2025 (in millions, except for percentages) Monthly Unique Users7 Singapore 1.3 22.6 % Hong Kong 1.0 17.3 % Taiwan 1.8 31.2 % Philippines 1.7 29.0 % Total 5.7 100.0 % Total Traffic7 Singapore 3.1 17.6 % Hong Kong 3.3 18.7 % Taiwan 5.9 33.5 % Philippines 5.3 30.1 % Total 17.5 100.0 % As of March 31, 2025 2024 (in millions, except for percentages) MoneyHero Group Members Singapore 1.4 16.7 % 1.2 21.0 % Hong Kong 0.9 11.0 % 0.7 12.6 % Taiwan 0.4 4.6 % 0.3 4.5 % Philippines 5.5 67.7 % 3.4 57.2 % Malaysia 0.0 0.0 % 0.3 4.8 % Total 8.1 100.0 % 5.9 100.0 % Conference Call Details The Company will host a conference call and webcast on Friday, June 13, 2025, at 8:00 a.m. Eastern Standard Time / 8:00 p.m. Singapore Standard Time to discuss the Company's financial results. The MoneyHero Limited (NASDAQ: MNY) Q1 2025 Earnings call can be accessed by registering at: Webcast: call: The webcast replay will be available on the Investor Relations website for 12 months following the event. _____________________________________7 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable monthly unique users and total traffic for this period following the transition. Please refer to the section titled 'Key Performance Metrics and Non-IFRS Financial Measures' for more information regarding the change in methodology. About MoneyHero GroupMoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. MoneyHero had over 260 commercial partner relationships as at March 31, 2025, and had approximately 5.7 million Monthly Unique Users across its platform for the three months ended March 31, 2025. The Company's backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC's digital economy, please visit Key Performance Metrics and Non-IFRS Financial Measures Historically, we utilized data from Universal Analytics ('UA'), Google's analytics platform, to measure three key business metrics: monthly unique users, traffic, and clicks. Effective July 1, 2024, Google Analytics 4 ('GA4') replaced UA. The methodologies used in GA4 are different and not comparable to the methodologies used in UA. While Google has provided some guidance on these differences, Google has not made available sufficient information for us to assess the impact (whether positive or negative) of this transition on our key business metrics, nor can we quantify the extent of such impact. Furthermore, due to the adoption of GA4, we have adjusted our definitions of these key business metrics to enhance accuracy and align them more closely with previous definitions under UA. Therefore, we are unable to provide comparable data for monthly unique user, traffic, and clicks for any periods prior to July 1, 2024. 'Monthly Unique User' means as a unique user with at least one session in a given month as determined by a unique device identifier from GA4. A session begins when a user opens an app in the foreground or views a page or screen while no other session is currently active (e.g., the prior session has ended). A session concludes after 30 minutes of user inactivity. To measure Monthly Unique Users over a period longer than one month, we calculate the average of the Monthly Unique Users for each month within that period. If an individual accesses a website or app from different devices within a given month, each device is counted as a separate unique user. However, if an individual logs in and accesses a website or app using the same login across different devices, they will only be counted as one unique user. 'Traffic' means the total number of unique sessions in GA4. A unique session is a group of user interactions recorded when a user accesses a website or app within a 30-minute window. The current session concludes when there is 30 minutes of inactivity or users have a change in traffic source. 'MoneyHero Group Members' means (i) users who have login IDs with us in Singapore, Hong Kong and Taiwan, (ii) users who subscribe to our email distributions in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia, and (iii) users who are registered in our rewards database in Singapore and Hong Kong. Any duplications across the three sources above are deduplicated. 'Clicks' means the sum of unique clicks by product item on a tagged 'Apply Now', 'Express Buy', 'Buy' or similar button on our website, including product result pages and blogs. We track Clicks to understand how our users engage with our platforms prior to application submission or purchase, which enables us to further optimize conversion rates. 'Applications' means the total number of product applications submitted by users and confirmed by our commercial partners. 'Approved Applications' means the number of applications that have been approved and confirmed by our commercial partners. In addition to MoneyHero Group's results determined in accordance with IFRS, MoneyHero Group believes that the key performance metrics above and the non-IFRS measures below are useful in evaluating its operating performance. MoneyHero Group uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. MoneyHero Group believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as profit/(loss) for the year/period and profit/(loss) before income tax. Adjusted EBITDA is a non-IFRS financial measure defined as loss for the year/period plus depreciation and amortization, interest income, finance costs, income tax expenses/(credit), equity-settled share-based payment expenses, transaction expenses, changes in the fair value of financial instruments, non-recurring legal fees, and unrealized foreign exchange differences. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue. A reconciliation is provided for each non-IFRS measure to the most directly comparable financial measure stated in accordance with IFRS. Investors are encouraged to review the related IFRS financial measures and the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures. IFRS differs from U.S. GAAP in certain material respects and thus may not be comparable to financial information presented by U.S. companies. We currently, and will continue to, report financial results under IFRS, which differs in certain significant respects from U.S. GAAP. For the Three Months Ended March 31, 2025 2024 (US$ in thousands) Loss for the period (2,449 ) (13,100 ) Tax expenses - 52 Depreciation and amortization 302 981 Interest income (131 ) (595 ) Finance costs 14 8 EBITDA (2,265 ) (12,654 ) Non-cash items: Changes in fair value of financial instruments (473 ) 1,346 Equity settled share-based payment arising from employee share incentive scheme 441 623 Unrealized foreign exchange (gain)/loss, net (1,012 ) 4,036 Listing and other non-recurring strategic exercises related items: Transaction expenses - 35 Other non-recurring items: Non-recurring legal fees - 174 Adjusted EBITDA (3,309 ) (6,440 ) Revenue 14,314 22,175 Adjusted EBITDA (3,309 ) (6,440 ) Adjusted EBITDA Margin (23.1 )% (29.0 )% Forward Looking Statements This document includes 'forward-looking statements' within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group's growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including 'outlook,' 'believes,' 'expects,' 'potential,' 'continues,' 'may,' 'will,' 'should,' 'could,' 'seeks,' 'predicts,' 'intends,' 'trends,' 'plans,' 'estimates,' 'anticipates' or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company's ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the 'Group') operates; the Group's ability to achieve profitability despite a history of losses; and the Group's ability to implement its growth strategies and manage its growth; the Group's ability to meet consumer expectations; the success of the Group's new product or service offerings; the Group's ability to attract traffic to its websites; the Group's internal controls; fluctuations in foreign currency exchange rates; the Group's ability to raise capital; media coverage of the Group; the Group's ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group's ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group's strategic investments and acquisitions, changes in the Group's relationship with its current customers, suppliers and service providers; disruptions to the Group's information technology systems and networks; the Group's ability to grow and protect its brand and the Group's reputation; the Group's ability to protect its intellectual property; changes in regulation and other contingencies; the Group's ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group's industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's annual report for the year ended December 31, 2024 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company's expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company. For inquiries, please contact: Investor Relations:MoneyHero IR TeamIR@ Media Relations:MoneyHero PR TeamPress@ Unaudited Consolidated Statements of Loss and Other Comprehensive (Loss)/Income For the Three Months Ended March 31, (US$ in thousands, except for loss per share) 2025 2024 Revenue 14,314 22,175 Cost and expenses: Cost of revenue (6,363 ) (14,106 ) Advertising and marketing expenses (4,584 ) (6,132 ) Technology costs (816 ) (1,851 ) Employee benefit expenses (4,354 ) (5,878 ) General, administrative and other operating expenses (2,190 ) (2,387 ) Foreign exchange differences, net 954 (4,112 ) Operating loss (3,040 ) (12,291 ) Other income/(expenses): Other income 131 597 Finance costs (14 ) (8 ) Changes in fair value of financial instruments 473 (1,346 ) Loss before tax (2,449 ) (13,048 ) Income tax expense - (52 ) Loss for the period (2,449 ) (13,100 ) Other comprehensive (loss)/income Other comprehensive (loss)/income that may be classified to profit or loss in subsequent periods (net of tax): Exchange differences on translation of foreign operations (1,378 ) 3,713 Other comprehensive (loss)/income that will not be reclassified to profit or loss in subsequent periods (net of tax): Remeasurement gains on defined benefit plan - 1 Other comprehensive (loss)/income for the period, net of tax (1,378 ) 3,714 Total comprehensive loss for the period, net of tax (3,827 ) (9,386 ) Loss per share attributable to ordinary equity holders of the parent Basic and diluted (0.1 ) (0.3 ) Unaudited Consolidated Statements of Financial Position As of March 31, As of December 31, (US$ in thousands) 2025 2024 NON-CURRENT ASSETS Non-current financial asset 600 600 Intangible assets 1,215 1,018 Property and equipment 174 215 Right-of-use assets 1,034 744 Deposits 36 25 Total non-current assets 3,059 2,601 CURRENT ASSETS Accounts receivable 14,559 13,538 Contract assets 12,571 11,825 Prepayments and other assets 9,413 10,149 Tax recoverable 108 63 Pledged bank deposits 188 185 Cash and cash equivalents 36,634 42,522 Total current assets 73,472 78,282 CURRENT LIABILITIES Accounts and other payable 29,400 30,209 Warrant liabilities 920 1,393 Lease liabilities 625 442 Tax payable 33 32 Provisions 30 71 Total current liabilities 31,007 32,147 NET CURRENT ASSETS 42,465 46,135 TOTAL ASSETS LESS CURRENT LIABILITIES 45,524 48,736 NON-CURRENT LIABILITIES Lease liabilities 424 294 Provisions 42 - Deferred tax liabilities 30 30 Defined benefit liabilities 187 185 Total non-current liabilities 683 509 Net assets 44,841 48,227 EQUITY Issued capital 4 4 Reserves 44,837 48,223 Total equity 44,841 48,227 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
