SINGAPORE: Deel reached a $1 billion revenue run rate in the first quarter of 2025 (Q1 2025), just six years after it was founded, and has continued to grow in April and May. Notably, in Singapore alone, the payroll and HR company’s revenue grew 75% year-on-year, according to the company’s press release on Tuesday (June 3).
From April 2024 to April 2025, Deel’s revenue grew 75% YoY. Its HR and payroll products also surged to a 164% YoY growth. The company has been profitable since Q3 2023 and achieved double-digit earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin growth in Q1 2025.
Anish Acharya, General Partner at Andreessen Horowitz and Board Member at Deel, said, “When I first met Deel, there were 10 people with a big idea, and now they’re powering global teams at a massive scale.”
Deel CEO and co-founder Alex Bouaziz said the milestone reflects the trust their customers have placed in the company. “From day one, we believed the future of work demanded a new kind of infrastructure — one that was global, flexible, and obsessed with quality. We’re proud of this milestone, but we’re even more excited about what’s next. Our work has only just begun,” he added.
Mark Samlal, Deel’s General Manager for Asia Pacific, added, “Surpassing the $1 billion run rate is not just a global milestone for Deel, but a testament to the trust and momentum we’re seeing across Asia-Pacific.”
“As businesses here [in Singapore] continue to expand internationally and embrace new ways of working, Deel remains committed to empowering them with the infrastructure and expertise needed to build truly global teams with confidence and speed.”
Deel has a customer base of over 35,000 companies and 1.25 million workers across more than 150 countries. Its clients include major firms such as Klarna, BCG, and Change.org. /TISG
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