San Francisco based payroll and compliance start-up Deel has launched in Australia and New Zealand with a promise to open up global employment opportunities locally.
The platform lets local organisations hire employees and contractors in other countries without needing a local entity and supports payment in more than 120 currencies, including cryptocurrency.
Deel says it has helped more than 4,500 companies around the world – including Shopify and Coinbase – hire more than 30,000 people remotely, taking the pain away from navigating regional payroll, benefits, taxes and HR laws.
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The launch comes as international borders reopen and Australian businesses enable more employees to work from anywhere, while also looking overseas to source global talent.
“Deel has been on a mission to make remote work accessible to all companies and all team structures since 2019,“ says Shannon Karaka, Deel’s Head of Expansion for ANZ.
“Companies now understand that in many instances, work can be done from anywhere, so the only real obstacle is navigating the complex web of industrial relations laws around the world – that’s where we come in.”
Deel is backed by Silicon Valley venture capitalists, including Andreessen Horowitz and Y Combinator. The company recently closed a Series D funding round, raising $US425m ($583.5m) at a $US5.5bn ($7.55bn) valuation.
At launch Deel’s local partners include Hibob, Jobadder and Zack Group. Around the world, Deel’s customers include Shopify, Andela, Coinbase and Intercom.
Hayley Baker, vice president of employee experience at Mobi says the company has hired employees in the US and UK using Deel.
“Our team can manage everything through the platform, which takes the stress out of hiring globally. We’re rapidly growing, and with the ease of Deel, they’ve become a critical part to our expansion plans going forward.”
Colin Kleine, Head of APAC Expansion at Zack Group says his company can now help businesses expand globally without needing an entity or physical office “which is a massive growth opportunity for us”.
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