Deel has announced the launch of “Deel Premium” a new service that facilitates remote hiring and compliance, worldwide. Deel has partnered with Insurtech Tint, a startup that provides an insurance-as-a-service platform. Tint’s best-in-class API allowed Deel to design, launch, and scale this new service.
Deel explains that a significant obstacle in hiring independent contractors in another country is “misclassification risk.”
If a hiring firm does not configure correctly for each country, they may run into issues with local governments and be forced to pay fines and more for incorrect contracts. Deel Premium covers this risk.
If a company upgrades a contract to Deel Premium for ($49 per contractor/mo, plus $50 per contractor/mo for Deel Premium), Deel will cover the legal costs, tax penalties, and third-party indemnity costs up to $25,000 if authorities challenge a team member’s classification.
Alex Bouaziz, CEO and co-founder at Deel said:
“We’ve spent the past two years building the best secure and localized compliance platform for our customers, making it much easier for them to hire globally. We’re so sure of our offering that we’re now going a step further, covering businesses’ costs in case of misclassification. Deel Premium is another way we’re challenging industry norms and innovating for our customers.”
Matheus Riolfi, co-founder & CEO at Tint, said they strongly believe in Deel’s vision to bring more protection to their clients:
“Deel is rightfully confident in their compliance offering, and we’re excited to see them take on more responsibility for their services. The company is a true pioneer in the compliance and payroll space.”
Deel recently announced a $425 million Series D funding round led by Coatue, valuing Deel at $5.5 billion.
