Fintech Deel lands $14m from Andreessen Horowitz, hires ex-Revolut US manager

By Daniel Lanyon on Friday 22 May 2020

Digital Banking

San Francisco based Deel is seeking to help remote teams with compliance and payments.

Fintech Deel lands $14m from Andreessen Horowitz, hires ex-Revolut US manager
Image source: Deel

Deel, a new fintech aiming to help companies with employees spread out across the world, has landed a $14m Series A funding round as well as poaching an early ex-Revolut employee to a senior role.

Dan Westgarth, formerly Revolut’s US general manager, has joined as Chief Operating Officer. Westgarth was an early team member of Revolut and launched Revolut in the US. 

Deel says that it’s mission is to “provide companies with a simple payroll platform to hire anyone, anywhere.” This, it adds, is achieved by bridging localised compliance and payments and "automating it all". 

It launched a year ago at Y Combinator’s demo day and now supports over 400 companies and thousands of their team members in over 110 countries. 

“Our goal is to build the world’s most robust platform to help businesses hire talent globally. We see the world without borders and want to challenge the concept that businesses are limited to a 30 miles radius when hiring,” the companies founders Shuo Wang and Alex Bouaziz (pictured) said in a blog post this week.

The recent trend for companies to look to more decentralised workforce is boon to Deel's target market.

"The recent pandemic has accelerated the idea of remote work as a norm, and great companies are already paving the way. They are realising that giving their team the freedom and space to choose where they work from, can improve their quality of life, cut costs, and have a positive impact on the natural environment. Plus, when people don't need to work from an office, the world is your hiring playground," it added.

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