PayPal Holdings Inc. announced Tuesday that it will acquire Hyperwallet, a firm that provides an online payment platform to pay freelancers as well as send and receive payments in other types of online transactions. Hyperwallet lists human cloud, online staffing firms Toptal and tilr among its customers.

The deal calls for PayPal to pay $400 million in cash. The deal is expected to close in the fourth quarter of this year and is subject to customary closing conditions and regulatory approvals.

“By acquiring Hyperwallet, we will be able to provide PayPal and Braintree [a division of PayPal] merchants with access to a comprehensive payments solution, including Hyperwallet’s localized, multi-currency payment distribution capabilities in more than 200 markets with numerous disbursement options, including prepaid card, bank account, debit card, cash pickup, check and PayPal,” PayPal COO and Executive VP Bill Ready wrote in a blog post.

Hyperwallet was founded in 2000 and has offices in San Francisco; Austin, Texas; London, Sydney and Vancouver, B.C. CEO Brent Warrington will remain with the company after the acquisition closes.

Hyperwallet had just announced in March that it would power payouts for tilr, a skills-based recruiting platform. It uses a smart algorithm to match qualified, pre-vetted workers with companies based on their skill set and geographical location rather than a résumé and job title.