TFY
TFY (Transformify Ltd.) is a London-based SaaS platform offering unified AI-powered ATS, Contractor of Record, Employer of Record, HRMS, VMS, and global contractor payments across 184+ countries, serving mid-market companies, enterprises, and NGOs.
- Company typePrivate
- Founded2015
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What TFY does
TFY (Transformify Ltd.) is a London-headquartered SaaS company founded in 2015 that operates a unified workforce management platform combining an AI-powered Applicant Tracking System (ATS), Contractor of Record (AOR), Employer of Record (EOR), Vendor Management System (VMS), Human Resources Management System (HRMS), Freelancer Management System (FMS), and global payment automation into a single system. Its core technical differentiators include semantic AI candidate matching that goes beyond keyword-based search, one-click job distribution to 100+ job boards, and multi-currency payment processing across 184+ countries through SWIFT, SEPA, ACH, PayPal, Payoneer, Revolut, Venmo, and 20+ cryptocurrencies via a partnership with CryptoProcessing by CoinsPaid. The platform is built on an Open API that integrates natively with SAP, Oracle, Slack, Jira, Asana, QuickBooks, and Google Workspace, and is positioned for SOC 2 and GDPR compliance.
The company serves three primary customer segments: mid-sized companies hiring globally, enterprises managing distributed contractor workforces across multiple countries, and NGOs/charities (for whom the core AI-powered ATS is provided free of charge). Revenue is generated through a modular pricing model — GBP 5 per active contractor per month for AOR, 1.5% on processed payment volumes, per-document e-signature fees, and modular subscriptions for ATS, HRMS, VMS, and EOR — supplemented by professional services fees for complex ERP integrations. Distribution combines a freemium self-serve onboarding motion (driving nonprofit adoption and organic referrals), demo-driven enterprise sales, partner/reseller channels, and an API-as-backend distribution model. The company is led by CEO Lilia Stoyanov and CTO Dessisslav Kamenov and has received external validation including FT1000: Europe's Fastest-Growing Companies 2026, UK Fast Growth Index Top 200 (2025), British Recruitment Awards 2025 finalist, and AI Entrepreneur Winners 2025.
TFY firmographics
Firmographics- Name
- TFY
- Legal name
- Transformify Ltd.
- Website
- https://transformify.org
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- TFY (Transformify Ltd.) is a London-based SaaS platform offering unified AI-powered ATS, Contractor of Record, Employer of Record, HRMS, VMS, and global contractor payments across 184+ countries, serving mid-market companies, enterprises, and NGOs.
- Ownership category
- akta.pro rank
TFY industry classification
Industry- Product category
- Workforce Management Software
- NAICS
- Computer Systems Design and Related Services (54151), Computer Systems Design Services (541512), Custom Computer Programming Services (541511)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)
- akta.pro primary industry
- Time, Attendance & Leave Management Outsourcing (T&A, Absence, FMLA) (BPACAKAF)
Keywords
Where TFY is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
TFY business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Contractor Management Subscription: A monthly subscription fee of GBP 5 per independent contractor is charged only if payments are transferred or projects are assigned during the respective month. This is a modular subscription model where clients pay per active contractor.
- Payment Processing & Billing Automation: A fee of 1.5% is charged on all processed payment volumes. This applies to all payment disbursements made through the platform across the global contractor network.
- AI-Powered ATS & HRMS Modules: Modular pricing model where clients pay for additional modules (ATS, AOR, HRMS, VMS) beyond the base offering. NGOs and charities receive the core ATS at no cost. Enterprise and mid-market clients subscribe to tiered plans based on feature access.
- Employer of Record (EOR) Services: EOR services provide legal employment in countries where the client has no local entity. Pricing is transparent with no hidden fees, minimums, contract lengths, or exclusivity agreements. Revenue generated from employment administration fees.
- E-Signature Service Fees: Fees are charged per signed electronic document as part of the contractor onboarding and compliance workflow.
- VMS API & Custom Integrations: Complex ERP integrations (SAP, Oracle) that require custom rules and development are subject to additional implementation and processing fees beyond standard pricing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Free | Free ATS for NGOs & Charities |
| Subscription | Monthly | Contractor Management (AOR) |
| Transaction based/ take rate | Pay-as-you-go | Payment Processing Fee |
| Subscription | Annual | Enterprise/Mid-Market Modules |
| Subscription | Monthly | VMS API & Custom Integrations |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels8 records
TFY product offering
Product offeringCore offering
TFY provides a unified SaaS workforce management platform that combines an AI-powered Applicant Tracking System (ATS), Contractor of Record (AOR), Employer of Record (EOR), Vendor Management System (VMS), Human Resources Management System (HRMS), Freelancer Management System (FMS), and global payment automation on a single system with Open API. It enables companies and NGOs to hire, onboard, manage, and pay contractors and employees compliantly across 184+ countries, with the core AI-powered ATS offered free of charge to NGOs and registered charities. Revenue is generated from modular subscriptions (including a GBP 5 per active contractor monthly fee), a 1.5% payment processing fee, e-signature fees, and fees for complex ERP integrations.
Product overview
TFY (Transformify Ltd.) is an all-in-one workforce management platform that combines multiple modules in a unified SaaS architecture. The core platform integrates AI-powered ATS, Contractor of Record (AOR), Employer of Record (EOR), Vendor Management System (VMS), Human Resources Management System (HRMS), Freelancer Management System (FMS), and global payment processing into a single system. The platform supports operations across 184+ countries and uses modular pricing where customers pay for selected modules (ATS, AOR, HRMS, etc.). The AI-powered ATS is provided free for NGOs and charities, while other modules operate on subscription and transaction-fee models. TFY connects hiring, onboarding, compliance, billing, and payment workflows in one platform.
Differentiator
Problem solved
Functional benefit
Products and services
- AI-Powered ATS (Applicant Tracking System) AI-powered applicant tracking system using semantic AI and predictive analytics for candidate matching, screening, and ranking. Includes one-click job distribution to 100+ job boards, collaborative hiring workflows, and AI-driven CV screening. Free for NGOs and charities.
- Contractor of Record (AOR) Agent of Record service that ensures contractors and freelancers are legally classified and compliant with local labor laws across 184+ countries. Handles contractor onboarding, document collection, contract management, tax documentation, and compliance records.
- Employer of Record (EOR) Employer of Record service enabling companies to hire full-time employees in 150+ countries without setting up local entities. Handles employment contracts, payroll, taxes, statutory benefits, and compliance through a network of in-country partners, with transparent pricing and no minimums or exclusivity requirements.
- Vendor Management System (VMS) Platform for managing vendors, freelancers, and contractors globally with rapid onboarding (hours vs. weeks). Enables automated billing and payments, compliance management, and vendor tracking across countries with reduced misclassification risk.
- Human Resources Management System (HRMS) Comprehensive HRIS for managing employees, contractors, and freelancers across 184+ countries. Features include attendance tracking, performance management, document management, org charts, calendar sync with Outlook/Gmail, and time-off workflows.
- Corporate Social Responsibility (CSR) Solutions CSR and diversity/inclusion solutions supporting mission-driven organizations with specialized hiring and workforce management tools.
- Global Payments Multi-currency payment processing for contractors and freelancers supporting bank transfers (SWIFT, SEPA, ACH), e-wallets (PayPal, Payoneer, Revolut), push-to-card, HSBC, Venmo, and crypto payments in 20+ cryptocurrencies via CoinsPaid partnership. Same-day payments supported in many cases; 1.5% processing fee applied.
- Freelancer Management System (FMS) Module for onboarding, managing, and paying freelancers and independent contractors. Supports automated invoicing, self-billing, rate management (hourly, daily, monthly, project-based), and contractor database migration.
- VMS API Optional API product for billing, self-billing, and payment automation to independent contractors, freelancers, and service providers. Subject to additional implementation, processing, and auxiliary fees for complex ERP integrations.
Quantifiable outcome
- Efficiency gains of 25-46% in time-to-hire for nonprofits using AI-powered ATS (from third-party industry data on nonprofit ATS adoption)
Companies that use TFY
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles4 records
TFY technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration15 records
AI capability5 records
Feature9 records
TFY partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, supporting and minor.
- SAPcoreNative integration with SAP's HR and enterprise systems, enabling seamless data synchronization between TFY's workforce management platform and clients' SAP-based payroll and HR infrastructure.
- OraclecoreNative integration with Oracle HR and enterprise systems, allowing clients to sync recruitment, contractor, and payment data directly into their Oracle-based infrastructure.
- PayoneercorePayoneer is a primary payment provider for TFY's global contractor payment rails. TFY supports Payoneer accounts for receiving contractor payments, Payoneer debit cards, and seamless Payoneer account connection within the TFY platform.
- CryptoProcessing by CoinsPaidcoreCryptoProcessing by CoinsPaid is TFY's partner for processing contractor payroll in 20+ cryptocurrencies, enabling crypto-based global payouts for freelancers and contractors.
- SlacksupportingStandard integration with Slack is included in TFY's pricing, enabling team communication and workflow notifications between TFY's workforce platform and clients' Slack channels.
- AsanasupportingNative integration with Asana allows TFY clients to sync project management and workforce task data between TFY's HR platform and Asana's project management environment.
- JirasupportingIntegration with Jira enables TFY clients to link contractor and workforce management workflows with their Jira-based project and issue tracking systems.
- RevolutcoreRevolut is supported as a payment method for TFY's global contractor payments. Contractors can receive payments to their Revolut accounts, with funds arriving within minutes of payment processing.
- HSBCsupportingHSBC is listed as a supported payment method for TFY's global payment processing, enabling contractor payouts to HSBC bank accounts.
- VenmosupportingVenmo is supported as a payment disbursement option for contractors on the TFY platform, with funds arriving within minutes of payment processing.
- WeWorkminorTFY's London Business Development office is located at WeWork's 30 Churchill Place location. This represents a co-working office arrangement rather than a formal strategic partnership.
- Google (Gmail, Calendar)supportingTFY integrates with Google Workspace — Gmail for email-based notifications and Google Calendar for syncing appointments and interview schedules within the HRMS.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
TFY competitors and assessment
Company assessmentBroad incumbents
- Rippling: Rippling is a broader HR and IT platform that has expanded into global payroll, contractor management, and EOR. It overlaps with TFY on HRMS, contractor payments, and workforce compliance, but with a much wider product surface and significantly more funding.
- Gusto: Gusto is an established payroll and HR platform for SMBs and mid-market, with growing capabilities in contractor payments and global hiring. Overlaps with TFY on HRMS, payroll integration, and contractor management for the US mid-market.
- ADP TotalSource: ADP is a broad incumbent in payroll, HR, and benefits administration with RUN Powered by ADP and ADP TotalSource covering EOR-adjacent PEO services. It competes with TFY for HR outsourcing dollars with significantly deeper enterprise installed base.
Direct peers
- WorkMotion: WorkMotion is a direct competitor providing global EOR and contractor management, particularly strong in Europe. It competes with TFY for the same European mid-market employers expanding internationally.
- Deel: Deel is the leading global payroll, EOR, and contractor management platform, explicitly named by TFY as a direct competitor. Both offer contractor onboarding, multi-country payments, and compliance, but Deel operates at vastly larger scale and funding.
- Remote: Remote is a direct competitor offering global EOR, contractor management, and international payroll. TFY positions itself against Remote by offering a unified suite (ATS + AOR + EOR + payments) where Remote focuses primarily on employment and contractor compliance.
- Multiplier: Multiplier is a direct competitor in global EOR, contractor management, and multi-country payroll. It targets the same mid-market and SME hiring-globally customer base as TFY's AOR and payment modules.
- Papaya Global: Papaya Global is a direct competitor providing global workforce management, EOR, and payroll automation. TFY explicitly names Papaya as a competitor; both compete for enterprises managing cross-border contractors and employees.
- G-P (Globalization Partners): G-P is a direct competitor in the global EOR and international hiring market. Both compete on multi-country employment, contractor compliance, and payments, with G-P focused more on enterprise customers.
Emerging players
- Workable: Workable is an ATS/recruitment platform overlapping with TFY's AI-powered ATS module, including candidate sourcing, AI matching, and job distribution. TFY differentiates by integrating ATS with downstream contractor management and payments where Workable stops at hiring.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
TFY social profiles
Digital presenceTFY compliance and trust
Trust signalCompliance2 records
TFY financial estimates
Financial estimateRevenue estimate
Valuation estimate
TFY leadership team
Management profileNumber of profiles
Profiles2 records
TFY funding detail
Funding detailFunding overview
Funding rounds4 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TFY M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TFY
What does TFY do?
TFY provides a unified SaaS workforce management platform that combines an AI-powered Applicant Tracking System (ATS), Contractor of Record (AOR), Employer of Record (EOR), Vendor Management System (VMS), Human Resources Management System (HRMS), Freelancer Management System (FMS), and global payment automation on a single system with Open API. It enables companies and NGOs to hire, onboard, manage, and pay contractors and employees compliantly across 184+ countries, with the core AI-powered ATS offered free of charge to NGOs and registered charities. Revenue is generated from modular subscriptions (including a GBP 5 per active contractor monthly fee), a 1.5% payment processing fee, e-signature fees, and fees for complex ERP integrations.
Is TFY a public or private company?
TFY is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was TFY founded?
TFY was founded in 2015. It employs 11 to 50 people.
Where is TFY based?
TFY is headquartered in London, United Kingdom, in the Europe region.
How does TFY make money?
Six revenue lines are on record. Contractor Management Subscription is the primary driver. The others are payment Processing & Billing Automation, AI-Powered ATS & HRMS Modules, employer of Record (EOR) Services, E-Signature Service Fees and VMS API & Custom Integrations.
Who are TFY's main competitors?
Broad incumbents on record are Rippling, Gusto and ADP TotalSource. Direct peers are WorkMotion, Deel, Remote, Multiplier, Papaya Global and G-P (Globalization Partners). Workable is listed as an emerging player.
Does TFY have an API?
Yes. TFY offers an Open API that enables businesses to integrate with their workforce management platform. The API allows syncing with HR systems, payroll software, ATS, ERP systems, and project management tools. It supports automatic creation and processing of payments for contractors and freelancers, enables data pull for financial software and ERP systems, and allows calendar integration with Outlook and Gmail. The Terms of Service also reference a VMS API for billing, self-billing, and payment automation to independent contractors, freelancers, and service providers, which is subject to additional implementation and processing fees.
What industry is TFY in?
TFY's product category is Workforce Management Software. Its primary akta.pro industry code is BPACAKAF, Time, Attendance & Leave Management Outsourcing (T&A, Absence, FMLA). Its NAICS code is 54151 and its SIC code is 7370.