San Francisco-based payroll and compliance startup Deel has been launched in Australia and New Zealand and is committed to opening up global employment opportunities locally.
The platform allows local organizations to hire employees and contractors from other countries without the need for local entities and supports payments in over 120 currencies, including cryptocurrencies.
During the launch, Deel said more than 4,500 companies around the world, including Shopify and Coinbase, have helped save more than 30,000 people remotely, eliminating the hassle of navigating local salaries, benefits, taxes and personnel laws.
Shannon Karaka, Deel’s ANZ Extension Officer said, “Deel has been on a mission to give remote workers access to all enterprises and all team structures since 2019."
“Companies now understand that they can often work from anywhere, so the only real obstacle is navigating the complex network of labour relations laws around the world. Is our turn. “
Deel is backed by Silicon Valley venture capitalists such as Andreessen Horowitz and Y Combinator. The company recently completed a Series D funding round, raising USD 425 MN at a valuation of USD 5.5 billion.
Deel claims to allow businesses to hire in less than 5 minutes employees and contractors without needing a local entity. It also says that it gives companies the ability to pay teams in more than 120 currencies with “just a click.”
With the latest financing, Deel has now raised a total of USD 631 MN in equity.