Latest news with #payroll
Independent Singapore
3 days ago
- Business
- Independent Singapore
Deel reaches $1B revenue run rate in Q1 2025; Singapore revenue growth surges 75% YoY
Photo: Facebook/Deel SINGAPORE: Deel reached a $1 billion revenue run rate in the first quarter of 2025 (Q1 2025), just six years after it was founded, and has continued to grow in April and May. Notably, in Singapore alone, the payroll and HR company's revenue grew 75% year-on-year, according to the company's press release on Tuesday (June 3). From April 2024 to April 2025, Deel's revenue grew 75% YoY. Its HR and payroll products also surged to a 164% YoY growth. The company has been profitable since Q3 2023 and achieved double-digit earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin growth in Q1 2025. Anish Acharya, General Partner at Andreessen Horowitz and Board Member at Deel, said, 'When I first met Deel, there were 10 people with a big idea, and now they're powering global teams at a massive scale.' Deel CEO and co-founder Alex Bouaziz said the milestone reflects the trust their customers have placed in the company. 'From day one, we believed the future of work demanded a new kind of infrastructure — one that was global, flexible, and obsessed with quality. We're proud of this milestone, but we're even more excited about what's next. Our work has only just begun,' he added. Mark Samlal, Deel's General Manager for Asia Pacific, added, 'Surpassing the $1 billion run rate is not just a global milestone for Deel, but a testament to the trust and momentum we're seeing across Asia-Pacific.' 'As businesses here [in Singapore] continue to expand internationally and embrace new ways of working, Deel remains committed to empowering them with the infrastructure and expertise needed to build truly global teams with confidence and speed.' Deel has a customer base of over 35,000 companies and 1.25 million workers across more than 150 countries. Its clients include major firms such as Klarna, BCG, and /TISG Read also: Telegram set to get US$300M and half of xAI revenue from Grok chatbot deal, 'pending formalities'
Zawya
4 days ago
- Business
- Zawya
Deel surpasses $1bln run rate, signaling a new era in global HR
San Francisco, CA – Leading payroll and HR company Deel announced today that it surpassed a $1 billion run rate in Q1 2025 — a significant milestone achieved in just six years since its founding. This accomplishment underscores Deel's rapid growth, global scale, and unwavering commitment to enabling the global future of work. Financial snapshot: Deel crossed $1 billion run rate in Q1 2025 and has continued to grow in April & May It has achieved 75% year on year revenue growth, April 2024-2025. Deel has been profitable since Q3 2023 and has not raised money since 2022. In Q1 2025 it achieved double digit EBITDA margin growth. It has achieved 164% year on year growth across its HR and payroll products, April 2024-2025. With a customer base exceeding 35,000 companies and 1.25m workers across 150+ countries. Deel has emerged as a foundational platform for modern workforce management. The company's integrated product suite and owned infrastructure has reshaped how organizations hire, pay, and manage employees. It offers a unified product platform - eliminating the traditional patchwork of providers many companies used previously - as well as white label and unbundled services, driving long-term growth diversification. 'When I first met Deel, there were 10 people with a big idea, and now they're powering global teams at a massive scale,' said Anish Acharya, General Partner at Andreessen Horowitz and Board Member at Deel. 'Alex and Shuo continue to execute on their vision, methodically building a platform that reduces the complexity of global hiring and enables companies to onboard talent anywhere in the world with speed and confidence. As a result, Deel has become the default infrastructure for global work. Their product velocity and early bet on AI have unlocked tools that make global work simpler and more accessible for customers everywhere.' 'Reaching a $1 billion run rate is a reflection of the trust our customers have put in us,' said Alex Bouaziz, Co-founder and CEO of Deel. 'From day one, we believed the future of work demanded a new kind of infrastructure — one that was global, flexible, and obsessed with quality. We're proud of this milestone, but we're even more excited about what's next. Our work has only just begun.' About Deel Deel is the all-in-one payroll and HR platform for global teams. Built for the way the world works today, Deel combines HRIS, payroll, compliance, benefits, performance, IT asset equipment management into one seamless platform. With AI-powered tools and a fully owned payroll infrastructure, Deel supports every worker type in 150+ countries—helping businesses scale smarter, faster, and more compliantly. Discover how Deel makes global work simple at
National Post
4 days ago
- Business
- National Post
Deel Surpasses $1 Billion Run Rate, Signaling a New Era in Global HR
Article content SAN FRANCISCO — Leading payroll and HR company Deel announced today that it surpassed a $1 billion run rate in Q1 2025 — a significant milestone achieved in just six years since its founding. This accomplishment underscores Deel's rapid growth, global scale, and unwavering commitment to enabling the global future of work. Article content Financial snapshot: Article content Deel crossed $1 billion run rate in Q1 2025 and has continued to grow in April & May It has achieved 75% year on year revenue growth, April 2024-2025. Deel has been profitable since Q3 2023 and has not raised money since 2022. In Q1 2025 it achieved double digit EBITDA margin growth. It has achieved 164% year on year growth across its HR and payroll products, April 2024-2025. Article content With a customer base exceeding 35,000 companies and 1.25m workers across 150+ countries, Deel has emerged as a foundational platform for modern workforce management. Article content The company's integrated product suite and owned infrastructure has reshaped how organizations hire, pay, and manage employees. It offers a unified product platform – eliminating the traditional patchwork of providers many companies used previously – as well as white label and unbundled services, driving long-term growth diversification. Article content 'When I first met Deel, there were 10 people with a big idea, and now they're powering global teams at a massive scale,' said Anish Acharya, General Partner at Andreessen Horowitz and Board Member at Deel. 'Alex and Shuo continue to execute on their vision, methodically building a platform that reduces the complexity of global hiring and enables companies to onboard talent anywhere in the world with speed and confidence. As a result, Deel has become the default infrastructure for global work. Their product velocity and early bet on AI have unlocked tools that make global work simpler and more accessible for customers everywhere.' Article content 'Reaching a $1 billion run rate is a reflection of the trust our customers have put in us,' said Alex Bouaziz, Co-founder and CEO of Deel. 'From day one, we believed the future of work demanded a new kind of infrastructure — one that was global, flexible, and obsessed with quality. We're proud of this milestone, but we're even more excited about what's next. Our work has only just begun.' Article content Article content Article content Article content Article content
Reuters
4 days ago
- Business
- Reuters
Deel eyes more acquisitions after hitting $1 billion annual revenue run rate
June 3 (Reuters) - Payroll startup Deel said on Tuesday it crossed $1 billion annual revenue run rate in the first quarter and has earmarked up to $500 million for acquisitions this year to bolster growth. Customers use Deel's global payroll platform to manage their international workforce. Deel, which acquired Safeguard Global's payroll division for an undisclosed amount in March, allocated an M&A budget of between $200 million and $500 million this year, CEO Alex Bouaziz told Reuters. The San Francisco, California-based company is still aiming for a 2026 U.S. initial public offering, but it depends on macroeconomic conditions. Deel said its revenue rose 75% for the twelve months ended April 30. It reported earnings before interest, taxes, depreciation, and amortization margin of 16% for the first quarter, ended March 31. Bouaziz said he does not know if the company will be able to keep growing at the same level, but "we are going to try our best." Founded in 2019, Deel provides services to help companies hire international employees and contractors while ensuring compliance with local labor laws. It also automates payroll processing for businesses operating across multiple countries. Deel — which has 6,500 employees and more than 35,000 customers including AI startup ElevenLabs, Nike (NKE.N), opens new tab, Klarna (KLAR.N), opens new tab, and Shopify ( opens new tab — competes with companies such as Rippling, Omnipresent and Automatic Data Processing (ADP.O), opens new tab. "We believe in the idea that typically, the service you get is tied to how much you are willing to pay ... Deel is a bit more premium than most companies," Bouaziz said. In March, rival Rippling filed a lawsuit against Deel alleging racketeering, misappropriation of trade secrets and unfair competition, among others. Deel filed its own lawsuit for defamation in April, saying Rippling has been running a multi-year smear campaign against it. The company also believes the allegations by Rippling are driven by the fact that "Deel is winning in the market."
Zawya
5 days ago
- Business
- Zawya
Egypt: eTax rolls out unified digital system for payroll tax calculation
Arab Finance: eTax, the technology arm of the Egyptian Tax Authority (ETA), has launched a new electronic system to standardize the calculation of wage and salary tax, developed in full cooperation with the ETA, as per an emailed press release. The move aligns with the Ministry of Finance's broader push for digital transformation across government services. The new system aims to eliminate inconsistencies and reduce reliance on manual estimations by introducing a unified, documented model for calculating payroll tax. Designed to ease longstanding challenges for employees, HR departments, and tax officers, the system ensures transparency, accuracy, and compliance across all participating entities. A central feature of the rollout is a dedicated online portal for employees, accessible through the ETA's website. Using their national ID number, individuals can register and view detailed breakdowns of their monthly salary, including total income, withheld taxes, and insurance contributions. The platform also allows users to print official, certified payslip for use in banking and governmental transactions. The system enables employees to verify that tax and insurance deductions comply with the law and are paid to the government on time. It offers a transparent and consistent record of entitlements, reducing the risk of calculation errors or manipulation. The initiative also streamlines administrative procedures by replacing paper-based documentation with secure digital records and supports financial inclusion efforts by making official documents easily accessible online. To safeguard personal data, the system operates on an advanced technological infrastructure that ensures high standards of data protection. By offering a standardized digital approach, the initiative strengthens trust among employees, employers, and the government, and marks a significant step toward modernizing Egypt's income tax framework. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
