HR tech unicorn Deel, arrives in UAE to accelerate global hiring

Dubai: Deel, the leading global hiring and payroll company, today announced that it has launched its service in the United Arab Emirates (UAE). The platform enables companies to hire independent contractors and full-time employees in over 150 countries compliantly, and in minutes, allowing local businesses to easily access new markets.

According to LinkedIn, remote job postings have more than doubled in the UAE, as companies adapt to changing preferences in the workforce caused by the pandemic. Founded in 2019, Deel's technology offers payroll, HR, compliance, perks, and benefits needed to hire and manage a global team using a tech-enabled self-serve process. The HR tech unicorn’s entry into UAE is driven by the growing momentum to promote remote working, an increased interest in attracting overseas talent, and the high growth potential of UAE’s market.

“The UAE is globally recognized for its accomplishments - with its commendable response to dealing with the pandemic and great incentives for entrepreneurship, the country’s economy is poised for strong growth this year. Giving local companies the ability to tap into a more global talent pool will only accelerate this development,” said Alex Bouaziz, Deel co-founder and CEO.

With a team of over 250 legal, accounting, mobility, and tax experts as partners, companies using Deel can create, sign, and send compliant localized contracts from a library of templates and pay teams in more than 120 currencies with just a click. Deel also offers Cryptocurrency Payroll, the use of cryptocurrencies as a means of payment of employee wages. This allows contractors to withdraw their paycheck in the cryptocurrency of their choice, along with the security and efficiency of blockchain technology.

“We created Deel to enable companies to hire anyone, anywhere, easily, efficiently, and most importantly, compliantly. We strongly believe that flexibility shouldn’t just be about where you hire, but also how you pay your team, which is why contractors can withdraw money from the platform in over 150 currencies, including crypto,” added Bouaziz.

Serving more than 6,000 customers, including Coinbase, Intercom, and Shopify, Deel’s revenue grew 20-fold year on year in 2021. The start-up raised more than $600 million in just three years and recently announced that it raised a $425 million Series D led by Coatue. Deel is now valued at $5.5 billion, cementing its position as the highest-valued company in the global hiring, payments, and compliance space.

Deel will be showcasing its platform at Step Conference from 23-24^th February 2022. Alex Bouaziz will also be participating in a fireside chat discussing the future of work on the main stage on 23^rd February at 11.10am.

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About Deel

Deel is a leading global compliance and payroll solution that helps businesses hire anyone, anywhere. Deel’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team.

Using a tech-enabled self-serve process, Deel’s customers can hire independent contractors and full-time employees in over 150 countries, compliantly and in minutes. With more than 250 legal, accounting, mobility, and tax experts as partners, Deel enables any business to create, sign and send compliant localized contracts from a library of templates and pay teams in more than 120 currencies with just a click.

Founded in 2019 by Alex Bouaziz and Shuo Wang, Deel is a fully distributed company with employees based worldwide. Learn more about Deel here.

© Press Release 2022