Velocity Global makes second acquisition with employer-of-record provider Shield GEO


Velocity Global announced this week that it acquired Shield GEO, a global employer-of-record provider. The deal is Velocity Global’s second acquisition this year following its buy of iWorkGlobal announced in April. Velocity Global had also received a $100 million investment earlier this year from FFL Partners, a San Francisco-based private equity firm.

Shield GEO is based in Hong Kong with entities in the UK and Australia as well as a global remote team.

“For the last seven years we built our platform to support how and where work gets done. This now allows us the strategic position to scale up to meet the accelerated demand from the shifting workforce,” said Ben Wright, Velocity Global founder and CEO.

Terms of the Shield GEO transaction were not announced. Velocity Global used capital from its $100 million growth investment from FFL Partners announced in April.

The combined company will serve more than 1,000 brands and support more than 7,000 employees this year.

“We share a proud history of organic growth, and now was the time to combine the global reach of Shield GEO with that of Velocity Global and deliver an even greater experience that the market is demanding,” said Duncan Macintosh, Shield GEO co-founder. “This combination multiplies the growth opportunity for our team.”

Velocity Global was founded in 2014 and provides global employer-of-record services and independent contractor compliance services in the US and internationally. It is based in Denver.