Deel unloads $300M in secondary sale, brings General Catalyst on as an investor

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Fintech-turned-HR outfit Deel is trying to lay the groundwork for an IPO. On Tuesday, it said its annual revenue run rate climbed to $800 million in 2024 after growing by 70%.

The startup, which helps businesses globally hire, manage and pay employees remotely, also said it has sold $300 million in secondary shares to General Catalyst and an unnamed “sovereign investor” – giving early investors a payout. CNBC reported that the unnamed investor is Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi.

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Deel unloads $300M in secondary sale, brings General Catalyst on as an investor


Fintech-turned-HR outfit Deel is trying to lay the groundwork for an IPO. On Tuesday, it said its annual revenue run rate climbed to $800 million in 2024 after growing by 70%.

The startup, which helps businesses globally hire, manage and pay employees remotely, also said it has sold $300 million in secondary shares to General Catalyst and an unnamed “sovereign investor” – giving early investors a payout. CNBC reported that the unnamed investor is Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi.

The publication also…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Team SNFYI
Hi! This is Admin.

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