Payroll platform for remote teams raises $30 million
San Francisco-based Deel announced a $30 million Series B round led by Spark Capital.
Founded in 2018, Deel’s original offering was an automated payment system for freelancers, which holds a payment from a client until work has been completed and approved, guaranteeing that freelancers are paid for their work. It has since shifted to offer a payroll platform for remote teams that allows clients to hire and pay workers in 150+ countries using a single platform, instead of relying on separate providers to pay teams located in Europe and Asia because labor laws vary by country. The platform takes care of onboarding, tax compliance and invoicing, and customer support is available in 10 different languages. Deel also helps workers get access to insurance and other benefits.
“We’re challenging the notion that companies need to hire within their vicinity. Our goal is to enable companies to hire the best talent wherever they are, without having to worry about legal and financial complexities, creating a truly global workforce.” – co-founder and CEO, Alex Bouaziz.
The company has previously secured $18 million.