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How Deel Conquered Global Payroll Without a Bank
In this episode, Lucas and Luna unpack how Deel—a company that started in 2019—grew to process over $10 billion in annual payments across 150 currencies without ever becoming a bank. They explore the specific regulatory hack Deel used: partnering with local licensed entities in each country instead of applying for a single global license. They also discuss the strategic bet founder Alex Bouaziz made on remote work before the pandemic, and how that timing allowed Deel to grow from zero to a $12 billion valuation in just three years. A key tension: is Deel a payroll company, a compliance…
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