Deel: Case study
Business · 11 September 2023Katharine Yacovone
🖥️ Website: https://www.deel.com/
💼 Industry: B2B SaaS, (Payroll and HR Tech)
📈 Stage: Enterprise, 2500+ employees
📍 Headquarters: US
💳 Product used: International payments & API
Challenge: Deel needed to process global payments for employees and contractors at speed, while balancing immense growth.
Solution: Revolut Business’s low-rate global payments, API, and bulk payments.
Results: they can pay employees and contractors quickly and easily, building trust with their customers.
Meet Deel. Since 2018, they’ve been handling two sides of the same service: offering global payroll and compliance services to help companies break into international hiring markets and support independent contractors worldwide.
As Deel’s Payroll Manager Jonathan Muyal puts it, “We allow businesses to tap into talent they wouldn't necessarily be able to”, so they can hire and manage practically anyone, anywhere with flexibility and ease.
Christina Puder, Payments Product Owner at Deel adds, “We offer the ability to get meaningful work. And the flexibility to work from anywhere.”
Deel's borderless business structure is integral to who they are. But juggling international payments seamlessly isn’t easy. And they would know, since they help other businesses do it. So who helps them do it? That’s easy: we do.
“Revolut Business helps us process payments around the world with ease - giving us the reach, control, and visibility we need,” comments Chief Operating Officer of Deel, Daniel Westgarth. Let’s have a closer look at how.
Challenge: Growing demand of international payments
First, some context. Deel has grown rapidly since they started. They now work with 9,000+ businesses, and hire independent contractors and full-time employees in 150+ countries, paying them in 120+ currencies. Offering reliable and quick payroll services is critical to keeping the company in a steady orbit.
Muyal boils down the company’s core challenge well: “The toughest thing, hands-down, is paying people in different countries timely and efficiently.” International payroll demands different currencies and procedures from country to country, which can slow down the process.
Deel handles the payments between businesses and international contractors. It's critical for Deel to handle both the fast-growing demand of payments, and pay contractors on time. This helps maintain the trust of both parties, and fuels Deel’s own business.
Solution: Fast payments with Revolut Business
The solution is a two-parter. Deel adopted a few Revolut Business products and tools – including our international payments, Business API, and bulk payments – to let international contractors withdraw their earnings quickly, and to pay employees seamlessly.
The Revolut Business API lets Deel distribute its customers’ funds to contractors worldwide. The automation streamlines and simplifies the process of moving these bulk funds to Revolut Business, where contractors can withdraw their earnings from the Deel platform to their own Revolut account when expected, without any transfer fee.
“Contractors on the Deel platform love the flexibility Revolut withdrawals provide. Instead of waiting 3-5 days for a SWIFT transfer to hit their bank account, they can get paid from Deel’s Revolut Business account into their own Revolut account instantly and without transfer fees,” says Puder.
“And now, with bulk uploads, I can pay a large number of people in one click,” adds Muyal. That’s fast, scalable payments, solved.
Results: Pleasing customers and cutting admin
So what’s Deel getting out of using Revolut Business? Puder measures success by the number of payroll support requests she gets from contractors: “I hear basically nothing about Revolut, which is fantastic.” That means this withdrawal method is working for contractors – it’s fast, dependable, and fuss-free.
All in all, Revolut Business has helped Deel ensure people see the money they’ve earned when promised, and our tools are built to grow with them.
Deel and Revolut Business have a similar goal – helping businesses go truly global. And we’re lucky to be able to help them keep up with their demand for borderless payments, so they can support international workers and companies fast and reliably.
Puder had a bit of advice for businesses who wanted to achieve something similar: “Moving money is complicated. So if that’s not your core business, you should outsource that to a reliable partner.”
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