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Deel acquires Africa-based payroll company PaySpace

March 6, 2024

HR solutions fintech Deel has acquired payroll and HR company PaySpace for an undisclosed amount.
PaySpace, founded in 2002 and based in South Africa, offers local payroll engines and HR services across 44 countries.
The acquisition positions Deel as the first global payroll company and Employer of Record (EOR) with its full-stack payroll engine localized in 50 countries.
Deel aims to provide customers with tailored and localized compliance insights, the ability to adjust payroll anytime, and faster payroll processing cycles.
Following the acquisition, Deel claims to own the full HR stack across six continents, with a presence in over 100 countries.