We struck gold! Zeitgold is now a part of Deel
The entire Deel team is excited to welcome Zeitgold to our global, remote-first family to help strengthen our international payroll, AI, and contractor offerings. This acquisition marks the first since raising our Series C a few months ago, and we're ecstatic to scale even further together.
As we mentioned in our Series C announcement back in April, we have big things on the horizon. Today we're taking a big step to make our global footprint even bigger, build the best team in the business, and perfect our product experience for the global workforce.
So how does the best platform for global hiring and payroll get even better? Well, they look to others who make the best products and are experts in their field to make remote work magic happen.
There's something about good people who build great products, and that's precisely Zeitgold. Deel thrives on this too, so the addition was undoubtedly a match. The purchase of Zeitgold marks the first step in Deel's extensive M&A plans and further strengthens our global payroll offering. Adding Zeitgold's full line of products through the acquisition enables Deel to improve our customer experience further and provide the right solutions to scale internationally.
I couldn't be more ecstatic to welcome two new high-level game-changers to the Deel team. Jan Deepen and Stefan Jeschonnek, co-founders of SumUp, a European fintech unicorn, and Kobi Eldar, a former senior intelligence officer of the prestigious 8200 Israeli unit. They founded Zeitgold in 2015 and since have raised over $60M from leading venture capital firms such as Battery Ventures, Vintage Investment Partners, HV Holtzbrinck Ventures, and insurance company AXA and Deutsche Bank. All of which will now be joining Deel as shareholders.
Partnering with a team and CEO whose core values and products align with what we're building at Deel is a great feeling. Just take Zeitgold's CEO, Jan Deepen's word for it, "By joining forces with Deel, we can leverage our core technology and products at a global scale. The new capabilities we're bringing to Deel will allow contractors and employees all over the world to stay compliant and take care of their payroll with confidence, all while continuing to help reduce hiring barriers worldwide."
Perhaps one of the most exciting parts of this acquisition is getting a well-versed team equipped with the technology and products to handle AI-powered payroll and automate payroll for businesses and contractors. Their contractor product has helped thousands of independent contractors with setup, bookkeeping, and tax filing. Plus, their stellar team and impressive track record have earned them the reputation as one of the gems in the German tech space. Welcoming the global payroll, automation, and AI expertise of Zeitgold's team is such an invaluable addition for us. Their robust IP in global payroll processing based on a powerful workflow engine and document understanding AI stack will help Deel scale further and serve hundreds of thousands more clients.
Keep an eye out for new benefits that we look forward to launching immediately with Zeitgold as part of Deel. We can't wait for you to see what's next.