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Exhibit 21.1

Subsidiaries of the Registrant

 

Entity Name

Jurisdiction of Organization

Payoneer Inc.

 

Delaware

Payoneer Research and Development Ltd.

 

Israel

Payoneer (UK) Limited

 

United Kingdom

Payoneer (EU) Limited

 

Gibraltar

Payoneer Hong Kong Limited

 

Hong Kong

Payoneer Japan Limited

 

Japan

Payoneer Early Payments Inc.

 

Delaware

Payoneer Canada Limited

 

British Columbia, Canada

Payoneer Australia Pty Ltd

 

New South Wales, Australia

Payoneer (Guangzhou) Commerce Services Co., Ltd.

 

China

Payoneer Payment Services (UK) Limited

 

United Kingdom

Payoneer Europe Limited

 

Ireland

Payoneer Germany GmbH

 

Germany

Payoneer Singapore Private Limited

 

Singapore

Payoneer India Private Limited

India

Payoneer India Commerce LLP

India

GCA SPV I LLC

Delaware

Payoneer (Vietnam) Company Limited

Vietnam

Payoneer Services Holdings Inc.

Delaware

Payoneer Global Services Spain, S.L.

Spain

Payoneer Holdings APAC Inc.

Delaware

Payoneer Holdings East Asia Inc.

Delaware

Payoneer Holdings EEA Inc.

Delaware

Payoneer Holdings UK Inc.

Delaware

Payoneer Holdings SAMEA Inc.

Delaware

Payoneer Corporate Holdings Inc.

Delaware

Beijing Payeco Development Holding Corporation

China

Payoneer Services Hong Kong Limited

Hong Kong


Skuad Pte Ltd

Singapore

All Remote Solutions Pte. Ltd.

Singapore

All Remote Solutions Pvt. Ltd.

India

Skuad Lab India Pvt Ltd

India

Skuad Australia Pty Ltd

Australia

Skuad New Zealand Pty Ltd

New Zealand

Skuad (Thailand) Co. Ltd

Thailand

Skuad Remote Solutions SDN BHD

Malaysia

PT Skuad Solutions Indonesia

Indonesia

All Remote Solutions (SMC-PVT) Ltd

Pakistan

Skuad Philippines Inc

Philippines

Skuad Vietnam Company Ltd

Vietnam

Skuad Hong Kong Ltd

Hong Kong

Skuad Korea Co. Ltd

South Korea

Skuad Ltd

Bangladesh

Skuad (Cambodia) Co. Ltd

Cambodia

Skuad Internet Technology (Shanghai) Co., Ltd

China

Skuad Nigeria Pty Ltd

Nigeria

Skuad Pte Ltd

Israel

Skuad South Africa (PTY) Ltd

South Africa

Rype Remote Solutions Ltd

Kenya

Skuad Cameroon Limited

Cameroon

Skuad Tanzania Limited

Tanzania

Skuad Human Resources Consultancy L.L.C

United Arab Emirates (UAE)

Skuad Solutions

Egypt

Skuad LLC

Morocco

Skuad, Inc.

US

Skuad Canada INC

Canada

Skuad Company S.A.S

Colombia

Skuad Solutions Mexico SA DE CV

Mexico

Skuad Brasil Gestao De Recursos Humanos LTDA Sociedade Unipessoal

Brazil

Skuad Panama S.A.

Panama

2


Skuad Costa Rica SRL

Costa Rica

Skuad Chile SpA

Chile

Skuad Dominican Republic SRL

Dominican Republic

Larner Sociedad Anonima

Paraguay

Skuad Uruguay S.A.S

Uruguay

Skuad Honduras S. DE R.L.

Honduras

Skuad Bolivia S.R.L.

Bolivia

Skuad Peru Sociedad Anónima Cerrada

Peru

Skuad UK Ltd

UK

Skuad Estonia OU

Estonia

Skuad Spain SL

Spain

Skuad Remote Solutions S.R.L

Romania

Skuad Doo Beograd

Serbia

Skuad Netherlands B.V.

Netherlands

Skuad France SAS

France

Skuad Ukraine LLC

Ukraine

SKUAD POLAND sp. z o.o.

Poland

Skuad Portugal, Unipessoal LDA.

Portugal

Skuad Italia S.r.l

Italy

Skuad Ireland Limited

Ireland

Skuad Hungary LLC

Hungary

Skuad Denmark ApS

Denmark

All Remote Solutions Finland Oy

Finland

Skuad Norway AS

Norway

Skuad Slovakia s.r.o.

Slovakia

Skuad (Cyprus) Ltd

Cyprus

Skuad Bulgaria EOOD

Bulgaria

Skuad Solutions Sarl

Switzerland

Skuad Hellas Single Member P.C.

Shorter Company name: Skuad Hellas

Greece

Skuad Remote Solutions LLC

Armenia

Skuad Remote Solutions Georgia LLC

Georgia

Skuad Germany GmBH

Germany

3


Skuad Belgium BV

Belgium

Skuad Remote Solutions LLC Sarajevo, "Remote Solutions Group"

Bosnia and Herzegovina

Skuad Czech Republic s.r.o.'

Skuad Zagreb d.o.o.

Czech Republic

Croatia

Skuad Turkey Human Resources Management Consultancy LLC

Turkey

Skuad S.A.S.

Argentina

Payoneer Payments (Guangdong) Co., Ltd (formerly, Payeco Finance Information Holding Corporation)

China

Boundless Technologies Limited*

Ireland

Boundless Cyprus Limited*

Cyprus

Boundless Payroll Belgium SRL*

Belgium

Boundless Payroll South Africa (Pty) Ltd*

South Africa

Boundless Payroll RO S.R.L.*

Romania

Boundless Payroll Finland Oy*

Finland

Boundless Payroll SL d.o.o.*

Slovenia

Boundless Payroll Mexico SC*

Mexico

Boundless Payroll Hungary Kft*

Hungary

Boundless Payroll Norway AS*

Norway

Boundless Payroll Bulgaria EOOD*

Bulgaria

Boundless Payroll Chile SpA*

Chile

Boundless Payroll Spain, S.L.*

Spain

Boundless Payroll Sweden AB*

Sweden

Boundless Payroll CR d.o.o.*

Croatia

Boundless Payroll Canada Limited*

Canada

Boundless Payroll Poland Spółka z Ograniczoną Odpowiedzialnością*

Poland

Boundless Payroll Czech Republic s.r.o.*

Czech Republic

Boundless Payroll France S.à r.l.*

France

Boundless Payroll Netherlands B.V.*

Netherlands

Boundless Payroll Portugal, Unipessoal Lda.*

Portugal

Boundless Payroll Estonia OÜ*

Estonia

Boundless Payroll USA, LLC*

United States

Boundless Payroll Singapore PTE. LTD*

Singapore

4


Boundless Payroll Lithuania UAB*

Lithuania

Boundless Payroll New Zealand Limited*

New Zealand

Boundless Payroll Germany GmbH*

Germany

Boundless Payroll Australia Pty. Ltd.*

Australia

Boundless Payroll Denmark ApS*

Denmark

Boundless Payroll UK Limited*

United Kingdom

Boundless Payroll Ireland Limited*

Ireland

* Acquired after the reporting period of this Annual Report, on January 19, 2026.

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