We have an exciting announcement- PaySpace is being acquired by Deel Inc, a global HR company. This acquisition will bring together Deel’s leading EOR services and PaySpace’s payroll technology expertise to deliver a unique and powerful offering to customers across the globe with unrivalled automation, flexibility and scalability.
About Deel
Deel started with the mission of empowering companies to eliminate hiring borders—so anyone, anywhere in the world, could access new opportunities.
Today, Deel simplifies every aspect of managing an international workforce, from culture to payroll and compliance. The company has grown to 3000+ team members across the globe in 100+ countries and has 20,000+ customers, including Shopify, Nike, and Cloudflare. Deel is one of the fastest-growing SAAS companies in the world. In 2023, they helped2,100 people get visas across 38 countries, onboarded 300,000+ workers onto their platform and generated 1,9 million payslips to get USD9 billion paid to workers worldwide.
Deel X PaySpace
With our cloud-native proprietary technology, PaySpace can assume the role of an exclusive calculation engine for Deel in the global market. It is this power that Deel recognised, and it will propel them to be the first EOR with their own multi-country global payroll calculation engine.
Deel is an existing PaySpace customer in 10 African countries and a BETA customer in Brazil and the UK. Our collective experience to date has shown great potential for future growth, and this acquisition sets the stage for fast-tracked country localisation through additional compliance by Deel and tech & build by PaySpace.
PaySpace represents an important acquisition for Deel in terms of the engine they will integrate but also in terms of our existing PaySpace business and its growth opportunity. The PaySpace business you know today will become a subsidiary of Deel and remain a standalone business.
The entire PaySpace team remains in place, committed to the high levels of service and support we’ve always provided.
Onwards and upwards with Deel!