Key Takeaways
- • Transformify (TFY) CEO Lily Stoyanov says the company reached profitability within three years of launch without venture capital funding, according to an interview with The European Business Review.
- • TFY's revenue reportedly grew from €5.9 million to €25.9 million over three years, and the company ranked No. 284 in the FT1000: Europe's Fastest-Growing Companies 2026.
- • TFY operates a global hiring, onboarding, and payment platform across more than 180 countries, including Contractor of Record and contractor management services.
- • Independent valuation assessments have reportedly placed TFY at a potential $1 billion-plus valuation, a figure the CEO says is not established through an actual investment or acquisition transaction.
- • TFY offers its core AI-powered applicant tracking functionality free to NGOs and charities, which the CEO frames as consistent with its commercial strategy.
Summary
Transformify (TFY), a global hiring, onboarding, and payment platform, has built a profitable business without taking external venture capital, according to an interview with CEO Lily Stoyanov published by The European Business Review. Stoyanov, who is also an angel investor, said the company became profitable within three years of its launch and attributes this to building around commercial fundamentals, financial discipline, and scalable technology. She described profitability as providing independence, allowing leadership to make long-term decisions without pressure from the next funding round.
According to the interview, TFY's revenue reportedly grew from €5.9 million to €25.9 million over three years, and the company was ranked No. 284 in the FT1000: Europe's Fastest-Growing Companies 2026. Stoyanov identified three decisions as most important: treating international hiring as more than recruitment by integrating onboarding, contractor management, compliance, and payments; investing in technology that scales without operational complexity; and maintaining a long-term view of capital allocation. She acknowledged trade-offs, including not pursuing every opportunity and not expanding teams ahead of demand.
TFY states that its Contractor of Record and contractor management solutions help businesses manage onboarding, documentation, contract administration, and international payments. Stoyanov noted that technology reduces manual errors but cannot guarantee compliance, and that local legal and tax expertise remains essential. TFY reports that clients can achieve hiring cycles up to 60% faster after implementation; Stoyanov said such results should be judged alongside cost-per-hire, candidate quality, and retention.
On valuation, Stoyanov said independent assessments have reportedly placed TFY at a potential $1 billion-plus valuation, while stressing that this differs from a valuation set by an actual investment or acquisition. TFY also makes its core AI-powered applicant tracking system available free to charities and NGOs. Looking ahead, Stoyanov said the company aims to become essential technology infrastructure for businesses managing international and flexible workforces, with focus on AI-powered recruitment, global contractor management, and international payments.
According to the interview, TFY's revenue reportedly grew from €5.9 million to €25.9 million over three years, and the company was ranked No. 284 in the FT1000: Europe's Fastest-Growing Companies 2026. Stoyanov identified three decisions as most important: treating international hiring as more than recruitment by integrating onboarding, contractor management, compliance, and payments; investing in technology that scales without operational complexity; and maintaining a long-term view of capital allocation. She acknowledged trade-offs, including not pursuing every opportunity and not expanding teams ahead of demand.
TFY states that its Contractor of Record and contractor management solutions help businesses manage onboarding, documentation, contract administration, and international payments. Stoyanov noted that technology reduces manual errors but cannot guarantee compliance, and that local legal and tax expertise remains essential. TFY reports that clients can achieve hiring cycles up to 60% faster after implementation; Stoyanov said such results should be judged alongside cost-per-hire, candidate quality, and retention.
On valuation, Stoyanov said independent assessments have reportedly placed TFY at a potential $1 billion-plus valuation, while stressing that this differs from a valuation set by an actual investment or acquisition. TFY also makes its core AI-powered applicant tracking system available free to charities and NGOs. Looking ahead, Stoyanov said the company aims to become essential technology infrastructure for businesses managing international and flexible workforces, with focus on AI-powered recruitment, global contractor management, and international payments.
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