Deel Leverages Nium's Global Network to Expand Payment Options
Executive Summary
The move to remote and hybrid workplaces means that companies have a need to hire, pay, and manage teams around the world. The ability to hire talent in different locations has also driven a new era of business, enabling increased efficiency, opportunity, and growth.
Deel, the global HR company launched in 2019, was built on the foundation that the complexities in global payment transactions shouldn’t be the bottleneck hindering international workforce hiring. As a result, they experienced a rapid growth rate delivering $295 million annual recurring revenue (ARR) up from just $57 million ARR in 2021.
Aiming for global reach, faster funds delivery, and improved administration for employers, Deel needed a partner for expanded payment options with their physical and virtual card issuance solutions.
The Challenge
As Deel grew, they recognized the need to future-proof their expansion. With employees and contractors located internationally in 80+ countries, they needed to bridge the traditional ways of moving money with a modern solution.
More than 15,000 organizations across 150+ countries have used Deel to hire workers.
Deel recognized that they needed a B2B payments partner that could further modernize their payments for a global workforce while moving beyond traditional bank transfers for their clients.
People are a business’s most valued, so HR needs to be seen as a competitive advantage, not a cost center. Talent is everywhere, but still today, the opportunity is not. At Deel, we believe that location shouldn’t stand in the way of businesses hiring the right talent or how people land their dream job.
– Courtney Chin, Director of Fintech Operations, Deel
The Solution
Aiming for global reach, faster funds delivery, and improved administration for employers, Deel selected Nium as their partner for expanded payment options with their physical and virtual card issuance solutions.
We chose Nium to be our card issuance partner as we wanted to offer contractors an integrated withdrawal option for instant access to their funds instead of the traditional domestic or international bank transfer options. Nium was the most global service on the market, and it complemented Deel’s global presence and customer base.
– Courtney Chin, Director of Fintech Operations, Deel
With licenses in 11 jurisdictions, a global network of more than 190 countries—100 in real-time—and a card issuance network of over 33 countries, Nium stood out from competitors with its powerful global coverage. Filling a critical gap with an improved network of payments was a faster, more flexible, and frictionless gateway empowering Deel to win the race for global talent for their clients.
The Results
The number of people and organizations engaging with work on a global scale has expanded significantly. Partnering with Nium has supported Deel’s scalability and process improvement and has fast-tracked their journey to mission-critical goals:
- Speed and Simplicity
Faster disbursement of funds to employees, enabling them to access them immediately. Single solution for end-to-end card operations and cardholder services.
- Efficiency and Security
Instant payment with enhanced security and control.
- Cost-effectiveness
Reduced administrative costs.
Deel is the all-in-one HR platform for global teams. It helps companies simplify every aspect of managing an international workforce, from culture and on-boarding, to local payroll and compliance. Deel works for independent contractors and full-time employees in more than 150 countries, compliantly. And getting set up takes just a few minutes. For more information, visit Deel.com.