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Numo

Numo

Y Combinator LogoW24
Active
fintech
payments
compliance
emerging-markets
neobank
San Francisco
 
https://numohq.com

The offshore bank for international contractors

Numo is the new money company — built to be the global bank for the newly minted generation of highly ambitious digital workers in Asia, Africa, LATAM, and beyond. These contractors currently sit in the 95th percentile of earners in their country — but their financial infrastructure is unstable. It's fragmented across PEOs, gig marketplaces, and consumer remittance platforms. With their local currency weakening against the US Dollar, they need control on how and when to repatriate funds. They don't just need a remittance app. They need a bank. Numo provides international contractors with a US bank account — and instant, low-cost payment rails to move money home. This way they can hold funds in USD up to the second they need to spend it. We help international contractors get paid like a local, while banking globally.

Numo
Founded:2023
Team Size:3
Location:San Francisco
Group Partner:Brad Flora
  

Active Founders

Derrick Wolbert

CEO at Numo. Building upside down Deel 🙃. Previously built Hologram.com from zero to $20M ARR and closed a $65M Series B as head of revenue. In a previous life, Derrick built the embedded car computing platform used in Waymo vehicles.

Derrick Wolbert
Derrick Wolbert
Numo
 

Reuben Balik

Reuben is the CTO and co-founder of Numo. Previously, he worked on the most difficult enterprise telecom integrations as the first engineer (and first employee) at Hologram.com.

Reuben Balik
Reuben Balik
Numo
 

Q Carlson

Co-founder, and CPO at Numo. Building the offshore bank for international contractors. Early designer at Flexport (W14) 🚢 ✈️ 🚛 and Quizlet. VP Design at Hologram & project44.

Q Carlson
Q Carlson
Numo
  

Company Launches

Numo — Offshore banking & instant payments for global contractors

Numo is like upside-down Deel

TL;DR

Numo verifies and credentials global contractors and lets them earn and hold the USD they get from working for American companies. When they need to spend it, we transfer money instantly to their local bank account.

We launched last week, and have 105 contractors already live and onboarded on Numo, sending their first invoices.

Problem

Paying international contractors for short-term engagements is messy. It’s full of remittance services whose brands are not conducive to trust or a professional environment and often look fraudulent to the uninformed.

For contractors, it’s even messier. With expensive fees, slow transfer times, and fuzzy tax + compliance rules — we’ve seen our customers resort to funneling money through friends and families just to get paid.

And the death blow for contractors is the hyperinflation many of their home currencies are experiencing. Contractors work more every day for less money. International contractors want to hold their funds in USD as long as they can, and then bring it back only when they need to spend.

Solution

So we built Numo:

  1. Contractors can onboard and get verified, background checked, and launch their profiles.

  2. Every invoice they send via Numo to their clients is paired with their verified profile.

  3. Their American clients get to pay the way they are most comfortable: ACH payment to a US bank account.

  4. Contractors can hold the USD they make stateside until the moment they need to spend it locally. They can transfer funds to their local account within 20 seconds without excessive fees.

We’re the team to build this

We all met working in the messy, terrible world of global telecom. We were the early operators at Hologram — a worldwide cellular network for IoT — taking the business from $0 to $20M ARR and through a successful Series B round.

👆 The Numo team on the ground running onboarding events in Lagos, Nigeria.

Reuben Balik was the first engineer at Hologram. He led the integrations with some of the worst telco APIs from Verizon, Telus, Deutsche Telekom, and TIS into a unified SIM card platform.

Q Carlson was the 2nd designer at Flexport and has crafted beautiful experiences in messy, hard industries like supply chain. He uses design to differentiate — attracting a premium for the product and accelerating growth.

Derrick Wolbert ran the GTM team at Hologram from zero through Series B. Before Hologram, he navigated complex bureaucracy at Jeep/Chrysler, building the infotainment platform Waymo relies on in their vehicles.

Numo founders in Dogpatch 👆

Ask

Are you using international contractors in your business? Ask them to invoice you using Numo!

We’re live in Nigeria. With Kenya, South Africa, Vietnam, Thailand, Malaysia, and the Philippines coming very soon.

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Get in touch with the team:

Derrick Wolbert, CEO — derrick@numohq.com
Q Carlson, CPO — q@numohq.com
Reuben Balik, CTO — reuben@numohq.com