Deel Secures $300 Million in Series E Funding
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Deel, a global HR and payroll platform, has raised $300 million in a Series E funding round, bringing its valuation to $17.3 billion. The investment was led by Ribbit Capital, with continued backing from Andreessen Horowitz, Coatue Management, General Catalyst, and others. The company plans to use the funds to advance its mission to simplify global work, including strategic acquisitions, product development, AI investments, and strengthening its payroll and banking tools.
Despite being embroiled in a corporate espionage scandal, Deel’s strong financials have helped maintain investor confidence. The company has been profitable for three years, generating over $100 million in revenue, with $15–17 million in EBITDA and a 70% growth rate. CEO Alex Bouaziz emphasized that the latest funding will support Deel’s expansion and development of its global workforce management solutions, catering to the growing demand for flexible employment practices worldwide.
The latest investment highlights the continued investor confidence in fintech companies and their potential for long-term success, even amid controversies.
