Deel, a leading HR and payroll platform for global teams, announced its further expansion into India, to support businesses in one of the world’s fastest-growing economies. Over the past year, Deel’s team in India has grown by 45%, now comprising more than 12% of the company’s global workforce.
Employees are spread across multiple job functions, including sales, engineering, and support, and work remotely from over 20 cities.
India, with its third-largest startup ecosystem globally, has seen a surge in overseas expansion by local businesses, driving demand for streamlined global workforce solutions. Deel aims to meet this need by offering tools to simplify the onboarding, management, and payment of international teams.
“India’s dynamic business environment presents an incredible opportunity,” said Mark Samlal, General Manager for the Asia-Pacific region at Deel.
The company’s presence in India was bolstered by its 2022 acquisition of PayGroup, a payroll and human capital management company operating in Asia Pacific and India. This acquisition added two decades of experience in the Indian market and expanded Deel’s capabilities in the region. Notable clients in India include HDFC Life Insurance, CleverTap, and Captain Fresh.
Deel, valued at $12 billion, has seen growth, achieving profitability in 2022 and an annual recurring revenue of $500 million this year. The company has also made key acquisitions in 2023, including African-based PaySpace and German firm Zavvy, further expanding its payroll infrastructure and HR offerings.
This July, Deel acquired Hofy, an employee onboarding and device management company, allowing Deel to launch Deel IT, an end-to-end global IT services platform.