Swingvy launches in Taiwan and launches new payroll product
HR Tech startup Swingvy has announced its entry into the Taiwan market, following on from its successful US$7 million Series A funding in 2019, led by Samsung Venture Investment Corporation (Samsung Ventures).
Jin Choeh, co-founder and CEO of Swingvy, said, “We are excited to officially launch Swingvy in Taiwan, and help even more SMEs solve their HR problems with their solution.
“Taiwan has great potential for us, with more than 1.4 million SMEs employing about 80% of the workforce, and 100,000 new SMEs emerging yearly. We want to capitalise on this and become the market leader in Taiwan.”
Swingvy is also introducing a new payroll product in Taiwan, which allows payroll taxes, deductions and claims to be automatically calculated via integration with Swingvy’s existing HR Hub.
This, explained Swingvy, means employers can run payroll and issue digital payslips instantly and accurately to their employees. This is calculated according to employee details found on HR Hub, minimising manual pay miscalculation errors.
Now serving over 8,000 clients across Taiwan, Singapore and Malaysia, Swingvy reported a 300% year-on-year growth for the past two years, and plans to double overall headcount by end 2020, as well as expand to new markets across the Asia-Pacific region.
In light of the current COVID-19 outbreak, Swingvy has also launched a 6-month Free Access initiative to support SMEs in their switch to telecommuting. The company has also piloted a series of webinars to help companies navigate the new way of working.