HR startup Deel announces its acquisition of African payroll and HR software company PaySpace, expanding its footprint in Africa with over 14,000 customers. The undisclosed deal follows Deel's recent acquisition of Zavvy and positions it as a major player in the global HR market. PaySpace, a bootstrap success story, has steadily grown its clientele, including multinationals like Heineken and Coca-Cola Beverages. This move aligns with Deel's ambition to serve 100 countries with native payroll engines and emphasizes its commitment to enterprise solutions. Deel also reveals crossing the $500 million mark in annual recurring revenue (ARR), showcasing robust organic growth and financial stability. The acquisition trend involving African-founded companies and global counterparts continues to gain momentum, reflecting the region's growing significance in the global business landscape.

Read more on TechCrunch