On Tuesday, the HR startup announced it is acquiring African-based payroll and HR software and services company PaySpace in a deal that marks its largest acquisition to date.
Financial terms of the PaySpace acquisition were not disclosed.
Separately, San Francisco-based Deel also revealed Tuesday that it has crossed $500 million in annual recurring revenue (ARR), organically, outside of this acquisition.
With the various buys, Deel claims that it now owns the full HR stack — entities, local teams (legal, HR payroll), and local payroll engines — across six continents.
Theirs is one of the best technologies we’ve ever seen … We had to do a lot of convincing.”In a written statement, PaySpace Director Clyde van Wyk said: “Like PaySpace, Deel strives to evolve its offering through disruption.
Egyptian B2B e-commerce startup MaxAB and Wasoko, a Kenya-based e-commerce player with operations in Tanzania, Rwanda, Uganda and Zambia, are in talks to merge operations, TechCrunch has exclusively learned from multiple sources.
The merger talks come as B2B e-commerce companies in Africa continue to scale back operations due to funding scarcity.
TechCrunch learned that the company had only received $30 million by the time merger talks, which are said to be investor-led, started.
As of last year, the prospect of a merger between MaxAB and Wasoko, both asset-heaving B2B e-commerce startups, seemed unlikely.
The eight-year-old B2B e-commerce company has since expanded to Zambia and the Democratic Republic of Congo.
As a pediatric radiologist, Jaishree Naidoo was used to seeing animals in scans, but she had a moment of epiphany after coming across a story detailing the use of artificial…
Technology has transformed how businesses operate, yet the process of selling and buying property has largely remained unchanged. Social media may be the key to changing this, as proptech companies…
The market for cross-border logistics services is expected to reach $32 billion by 2025, and competition in the industry is heating up. Ghanaian e-logistics startup Jetstream Africa has just secured…
