January 15, 2020 – Tallinn – Rimuut, an Estonian e-Residency startup, known for removing the most common commercial problem of all freelancers across the world, proudly announces a great deal in a bid to assist freelancers when it comes to Issuing valid VAT invoices and getting paid without having a registered company.
The usual Billing, Settlement, and Payment (BSP) process between two registered companies won’t work between an individual and a commercial entity. Thus, freelancers feel this handicap by losing clients or being replaced by agencies or registered businesses, while in fact, freelancers are the most cost-effective solution when compared to businesses giving the same service.
Rimuut eliminates this handicap, plus solves the problems of companies that work with freelancers: Since freelancers who are unincorporated are not able to issue valid invoices, companies face higher tax payments since the freelancer payouts cannot be used for tax deduction purposes.
On its second year after the launch, Rimuut reached over 25.000 freelancers across 40 countries and completed tens of thousands of transactions, while achieving 91% customer satisfaction, 77 NPS (SaaS Avg: 26) and a quarterly recurring revenue rate of 75%, which indicates that Rimuut continues its sustainable and rapid growth.
No Paperwork, No Hustle – An Alternative to Business Registration
EU-based Rimuut creates an alternative to business registration for freelancers who, with the paradigm-shift to a more independent work routine, won’t settle down for a company.
Freelancers, wherever they may be based, can register in a minute and start issuing valid VAT invoices, which can be used for tax returns by the clients. As it’s a pay-as-you-go system, there is no signup fee or monthly cost, which makes Rimuut a safe starting point for digital nomads and freelancers before they even consider incorporation.
The system which has been designed to fit local and international tax regulations, lets Rimuut to become user’s digital service reseller, which in turn enables Rimuut to sell services to related clients on behalf of freelancers.
By removing problems such as the notary, accountant costs and time needed to establish a company, Rimuut transforms freelancers into virtual companies and handles BSP processes for them. When clients make their payments to Rimuut, the freelancer payout is completed within 24 hours and in 50 different currencies depending on the user’s preferences.
Founded by two Turkish entrepreneurs Esen Bulut and Mert Bulut, Rimuut works with over 2000 corporations in 40 countries, including renowned brands like KPMG, Columbia University, Greenpeace, Delivery Hero and Change.org
For more information about Rimuut: https://rimuut.com