Deel, the fintech of wage portage, lands in Europe

The story seems to tilt in the side of Part. Since its creation in November 2018, the young Californian startup co-founded by a Frenchman has been accumulating customers at a rate of 40% per month, and at the very beginning of the summer had 400 companies using its payment platform for outsourced employees. Enough to convince it to accelerate its international deployment and open its activity to Europe this Thursday, July 13.

The coronavirus crisis has accelerated remote employment, including outside the country where the company’s head office is located. And the fact that the latter calls on freelancers or employees established all over the world only reinforces the needs of a service making it possible to adjust the technical and legal specificities of each country. “When you work with freelancers in France, for example, you have to understand their status and the administrative points, explains Alex Bouaziz, co-founder and CEO of Deel. And we do this in 140 countries through partnerships with lawyers in each market. “

Funded by a star Silicon Valley fund

Each month, more than 3,000 people are paid via the Deel platform, for a volume of between 7 and 8 million dollars. The companies that use his services have for the moment a strong dominant “tech” like WeTransfer or abrasion, but the young growth is counting on the growth of large groups to take a new step.

Its trajectory has everything of the little gifted, with an incubation of three months at the famous Y Combinator from San Francisco at the very beginning of its existence, followed by a first round of funding of $ 4 million, then a fundraising of $ 14 million from one of Silicon Valley’s most popular funds, Andreessen Horowitz. This mark of confidence on the part of the American investor who had bet on Facebook, Lyft or Slack, allowed the start-up to poach Dan Westgarth at Revolut to run its operations.

This does not prevent the team, all of whose members work remotely, from having “A strong French coloring”, adds Alex Bouaziz. To support its growth in Europe, it should reach around fifty people by the end of the year.

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