How Bitpanda expanded from 3 office hubs to 20+ jurisdictions with Deel

description
hero image

20+

New jurisdictions expansion with Deel

3 months

Saved on onboarding for each new hire

Industry

Fintech

Region

Europe and Middle East

Company Size

1000+

Deel products used

Deel Global Payroll

Deel EOR

Deel Contractor Management

The Company

Austria’s first unicorn company

Founded in 2014, Bitpanda is one of the fastest-growing fintech companies in Europe. As a leading financial platform, Bitpanda’s goal is to simplify wealth creation, empowering anyone to easily trade crypto, stocks, precious metals, ETFs, and more.

The Problem

Untangling legacy provider issues

When Lindsay Ross joined Bitpanda as their Chief Human Resources Officer, they were growing fast.

They needed to hire the best talent quickly but didn’t have the time or infrastructure to seamlessly hire and onboard independent contractors abroad or set up entities without first testing the market.

For the entities they did own, they needed a way to manage their direct employee payroll. Bitpanda started working with a new “global” provider, but they weren’t receiving the level of service or coverage they were promised.

“We felt like we were sold a lemon,” explained Ross. “They said they were a global solution, but they were just the middleman between local service providers.”

At a crossroads, they started piloting going back to local country providers with a select few jurisdictions. But they wanted a truly global payroll solution, as well as more efficient and compliant ways to grow their team.

The Solution

A fast track to compliant global hiring

Lindsay had used Deel EOR at her previous company to replace a legacy vendor for faster, more accurate global hiring, so she knew she could use the platform to easily and compliantly hire employees for Bitpanda.

“We use Deel EOR every time we enter a new market — it’s our fast track to simple and compliant hiring before setting up entities,” said Ross.

To hire independent contractors, Bitpanda chose Deel Contractor Management and uses Deel Shield to take on all of the liability risks and concerns.

“With Deel Shield, there’s no fear or hesitation when it comes to hiring contractors,” explained Ross. “We can hire the best people for the job, stay completely compliant, and create a great experience for everyone.”

With Deel, Bitpanda was able to:

  • Seamlessly enter 20+ new jurisdictions
  • Attract high-quality talent with great benefits and company programs
  • Protect their compliance without having to keep a pulse on every jurisdictional change

Experiencing truly global payroll at Deel speed

To round out their tech stack, Bitpanda needed a truly global payroll solution. During this time, one of their existing local payroll providers sent them an alarming notification: They weren’t going to pay Bitpanda’s team in the Netherlands, and it was less than a week before payday. They needed a fix, fast.

Lindsay reached out to Deel and within a week, Bitpanda’s Netherlands team was on Deel Global Payroll — and being paid without missing a beat.

“The Deel team went above and beyond to migrate an entire country’s payroll from our previous provider to Deel Global Payroll in just seven days.”

Lindsay Ross,

CHRO, Bitpanda

The Results

Building together as trusted partners

With Deel, Bitpanda not only avoided potential payroll disasters, but also increased their global worker footprint from 3 office hubs to 20+ jurisdictions — all without worrying about compliance, missed payments, or slow response times.

With Deel, Bitpanda has been able to cut down their onboarding time from 3 months to just 10 days.

“Deel is hands-down the most compatible all-in-one solution for modern organizations,” said Ross. “With everything you need to hire and pay workers in one platform, no other provider comes close to the level of partnership they offer.”

Deel makes growing remote and international teams effortless

150+

countries

20,000+

customers

200+

in-house experts

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