Velocity Global Establishes Asia-Pacific Headquarters in Singapore; Appoints Nicholas Yap as Managing Director
Velocity Global clients grow more than 30% in APAC this year
Company plans to add hundreds of clients in APAC within two years
Nicholas brings 20 years of APAC business growth experience
Singapore follows Amsterdam as second regional headquarters for Denver-based company
DENVER & SINGAPORE--(Business Wire / Korea Newswire) October 22, 2020 -- Velocity Global, the leading provider of global expansion solutions, announced today it has selected Singapore as the location for its Asia-Pacific (APAC) headquarters. The Denver-based company appointed business growth veteran Nicholas Yap as managing director of APAC based in Singapore.
Clients rely on Velocity Global’s expertise and global infrastructure to hire internationally without the cost or complexity of setting up their own foreign legal entities. As a strategic partner, Velocity Global manages in-country compliance, payroll, and benefits for its clients’ supported employees. Velocity Global supports hundreds of employees for clients in APAC, and plans to add hundreds of clients within two years.
“The number of clients that expanded into APAC grew by more than 30% in the first eight months of this year compared to the same period last year, and the number of supported employees for our clients grew at a similar rate,” said Ben Wright, Velocity Global founder and CEO. “Our APAC headquarters, under the leadership of Nicholas Yap, is an investment in our commitment to serve global companies with their sights set on the region.”
Singapore is the top destination for Velocity Global clients that expand to APAC, both by number of clients and number of supported employees. The country topped the rankings in Velocity Global’s 2020 Global Expansion Tech Index™ for its business-friendly regulatory environment and high marks for connectivity and infrastructure. Additionally, Singapore ranked as Asia’s most innovative nation in the latest Global Innovation Index (GII) released as a collaboration between the World Intellectual Property Organization (WIPO), Cornell University, and INSEAD.
“Singapore is the gateway to the Asia Pacific market. It is one of the easiest places to do business on the planet due to its digital and geographic connectivity,” said Nicholas, who has 20 years’ experience building businesses and scaling operations in APAC. “I am privileged to lead the team introducing new businesses to the region and new professional opportunities for the talented workforce. Our rocket-ship growth accelerates with the growth of our clients."
In its top three APAC markets, Velocity Global added 50% more clients in Singapore, China, and Australia this year compared to the same time last year.
Nicholas leads Velocity Global’s APAC team and reports to Chief Operating Officer, José Montero. Prior to joining Velocity Global, Nicholas was the Managing Director for APAC at Condeco Software, a global leader in workspace technology. Most recently he served as the Head of Business Development with Serco PLC to establish new markets in Southeast Asia for public services outsourcing. He is a certified expert in service management and has deep experience across the entire service lifecycle.
Velocity Global established its presence in Singapore in 2018. The team delivers various corporate and client-facing functions including customer experience, operations, payroll, human resources, and finance. The APAC team currently supports clients and hundreds of supported employees in more than a dozen languages in the region.
“We see incredible growth in the known destinations like Singapore and China, but Southeast Asia is the fastest growing economic bloc in the region. Countries like Thailand, the Philippines, and Malaysia attracted more clients this year than last and I expect that growth to continue,” added Nicholas.
Today’s announcement comes a month after Velocity Global named Amsterdam as the location of its European headquarters.
Velocity Global has approximately 250 employees located in 14 countries serving thousands of supported employees working on behalf of hundreds of clients in over 100 countries.
A biography for Nicholas Yap is available on the Velocity Global Leadership page (https://bit.ly/3mnjRYL).
ABOUT VELOCITY GLOBAL
Velocity Global helps companies grow globally. Founded in 2014, Velocity Global’s clients rely on its expertise and global infrastructure in 185 countries to hire compliantly around the world, increase revenue, scale efficiently, and access global talent. Named a “Leader” in Global Employer of Record services by prominent analyst firm NelsonHall, Velocity Global is a strategic partner to its clients with comprehensive services led by its core offering of International PEO as well as Immigration, Entity Setup and Support, Global Talent Acquisition, and Consulting. Velocity Global is headquartered in Denver, Colorado, with regional headquarters in Amsterdam and Singapore, and local employees in 14 countries.
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