Deel launches Down Under
Global hiring, payroll and compliance start-up Deel is expanding into Australia, intending to help make remote work more accessible for Australian and New Zealand organisations.
Deel, which takes on the legal liability for remote employees and manages all the legal and compliance needs via its own entity, is launching in Australia and New Zealand. The start-up recently completed its Series D funding round, in which it raised US$425 million at a US$5.5 billion valuation, which it said “makes it the largest company in this space by market capitalisation”.
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In a statement, Deel said that it “helps businesses hire employees and contractors compliantly without needing a local entity in less than five minutes, and supports payment in more than 120 currencies – including cryptocurrency – with one click”.
Speaking about the expansion, Deel co-founder and CEO Alex Bouaziz said that he is “thrilled to know that we’ll be helping Australian companies have access to the best talent from around the world, and that Australian workers will be able to work for the company of their choice regardless of where the head office is located”.
Deel head of expansion for Australia and New Zealand Shannan Karaka (pictured) added that the start-up has “been on a mission to make remote work accessible to all companies and all team structures since 2019, and we’ve seen a momentous paradigm shift over the last 18 months”.
“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,” he said.