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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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