Deel Becomes a Market Leading International Payroll Company
Engages J.P. Morgan for foreign exchange and payments expertise to support global growth
SAN FRANCISCO–(BUSINESS WIRE)–Fueled by the current environment, companies are realizing the benefits of remote work. This significant shift can not only improve employees’ quality of life, but also help companies access a larger pool of talent, while curbing operational costs. As an international payroll and compliance company, Deel is well prepared to support this trend and is announcing that more than 1,000 businesses are now using Deel to hire remote talent, and revenue is growing 40% month-over-month.
Deel envisions a world without borders. Hiring international teams can take a very long time and comes with additional legal and compliance work. Through the Deel platform, employers no longer need to be constrained by their geography to hire and retain the best talent. Deel allows employers to tap into a global talent market without worrying about the complex logistics and red tape that can come with a global footprint.
Deel is also excited to leverage J.P. Morgan’s Treasury Services APIs to build a customized platform to enable the company to further scale and automate its global capabilities. By building on top of J.P. Morgan Developer, a tool that empowers technologists to use the firm’s technical capabilities to create unique experiences for their users, Deel is tapping into APIs, foreign exchange services and global payment capabilities to make paying—and getting paid—faster and cheaper for its clients. By further integrating into the banking infrastructure, Deel is positioning itself to quickly develop new, highly sought-after features and make them available globally.
Alex Bouaziz, Founder and CEO of Deel, said, “Integrating J.P. Morgan into our tech stack is a big deel. They will power a critical component of our business by enabling us to take control of our global payments infrastructure and build new products to serve our customers anytime, anywhere.”
In just a few clicks, companies can easily and compliantly hire with Deel in over 150 countries. From creating localized contracts to paying an international team, Deel automates everything for businesses in one easy-to-use dashboard, all while ensuring they’re compliant with local laws.
“We’ve been working with some of the world’s most complex international businesses on their unique needs for decades and we’re excited to share our expertise to support the growth of a promising startup like Deel at this pivotal time,” said Brody Mulderig, Vice President of Financial Technology for J.P. Morgan Corporate Client Baking and Specialized Industries. “We appreciate the symbiotic relationship we have with fintech businesses and enjoy working together to make doing business easy and simple.”
In May 2020, Deel raised a $14m Series A led by Andreessen Horowitz, followed four months later in September by a $30m Series B, led by Spark Capital. The recent financing rounds have enabled their team to grow 200% in just three months. Likewise, Deel is announcing the opening of new strategic positions on the team, granting the opportunity to join a group of 60+ self-driven builders and problem solvers spanning 25+ countries to lead the charge on growth in India and Singapore.
Deel strives to continue to help businesses grow their remote workforces globally post-pandemic. Opening up a broader pool of talent, while enabling companies to be more efficient, is a win-win. By simplifying the international hiring process and eliminating roadblocks, Deel empowers businesses to hire whenever, wherever without consuming precious company resources to remain compliant with a set of global rules and regulations.
ABOUT DEEL
Deel is a global payroll platform for international teams that enables companies to hire anyone, anywhere, without worrying about local laws, complicated tax systems or international payroll. In just a few clicks, any company can compliantly hire with Deel in over 150 countries. Deel has partnered with over 200 labor law and accounting experts to create localized contract templates that can be used to legally onboard international employees, in minutes. Founded by Alex Bouaziz (CEO) and Shuo Wang (CRO) in 2019, the company has a remote team of 60 people based in 25+ countries around the globe. Find Deel online: www.letsdeel.com
Contacts
Meltem Kuran
Deel
+1 (647) 546-5869
[email protected]
