New American ‘unicorn’ Deel plans expansion into Brazil

The startup, which created a payroll platform for remote workers, raised US$156 million.

RIO DE JANEIRO, BRAZIL - American startup Deel, owner of a payroll platform for remote workers, announced on Thursday, April 21st, a US$156 million Series C funding round. The investment, led by Andresseen Horowitz and YC Continuity, which gives the company the status of unicorn (market valuation higher than US$1 billion), will have part of the funds allocated for expansion into new markets, including Brazil.

Cristiano Soares, Deel's director in Brazil, says that the startup's goal is for the country to represent 10% of its global revenues.

"There is a strong demand by innovative companies in the . . .

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