10 Recently Funded Startups to Watch in 2022
Introduction
Deel, the innovative platform revolutionizing remote workforce management, is empowering companies to effortlessly onboard, compensate, and oversee their global teams. With remote work becoming the norm, businesses are recognizing the need for a streamlined approach to international hiring. Deel not only provides a tool for managing remote employees but also opens doors to a world of local expertise in legal, tax, and accounting matters.
Imagine the ability to tap into the most extensive market coverage and hire anywhere in just minutes. Deel offers over 100 entities and comprehensive visa support, making it a strategic advantage in the global market. This article explores how Deel is transforming the way companies navigate the complexities of international compensation and compliance, ultimately driving productivity and long-term success.
Deel – Revolutionizing Remote Workforce Management
Deel’s innovative system is transforming the way companies hire and manage their international teams, particularly in a landscape where remote work has become the norm. With Deel, businesses can effortlessly onboard, compensate, and oversee their global workforce. This mechanism is not merely a tool; it serves as a gateway to a realm of local proficiency in legal, tax, and accounting matters, accessible with a few clicks. Imagine having the ability to expand your talent pool infinitely by tapping into the most extensive market coverage, enabling you to hire anywhere in just minutes. Deel makes this possible with over 100 entities and comprehensive visa support at your disposal.
The transformative impact of Deel is evident in the case of Delivery Hero, the world’s premier local delivery platform. They faced a significant challenge with a vast number of their 53,000 employees experiencing frustrating lockouts from their accounts, resulting in approximately 800 support requests each month. This not only affected productivity but also consumed valuable IT resources. By implementing a solution that reduced these disruptions, Delivery Hero streamlined its processes, saving 200 hours per month – a testament to the efficiency gains that are possible.
Employer of Record solutions, such as those offered by Deel, are crucial for companies managing the intricacies of international compensation and compliance. With the rise of distributed teams, employers must adapt to a new reality where geopolitical boundaries are no longer barriers to talent acquisition. As remote work continues to flourish, with 24% of Canadians working from home as of May 2021, businesses are recognizing the increased productivity and long-term loyalty that come from happy, engaged remote employees. Deel’s system is designed to support this shift, offering not just a service, but a strategic advantage in the global market.
Ramp – Bridging Traditional and Digital Finance
In the competitive landscape of B2B startups, Ramp stands out as a beacon of innovation in the technology arena. This forward-thinking company has created a strong system that not only simplifies corporate spending but redefines it. By leveraging the power of real-time analytics and automated expense monitoring, Ramp empowers businesses to navigate their monetary journeys with precision and foresight. The intuitive design of the system enables companies to identify and optimize savings opportunities, empowering them to refine their strategies and make data-driven decisions.
As we observe a growing demand for digital-first monetary solutions, Ramp’s approach resonates deeply with the needs of modern enterprises, particularly within the thriving Chicago startup community. The seamless integration of technology echoes the transformation seen across various industries, where digital convenience and on-demand services are not just preferred but expected by the tech-savvy Gen Z and millennial market segments.
Ramp’s ethos of efficiency and accessibility in money management mirrors the success stories of other FinTech innovations, such as Fleming and YNAB, which have revolutionized user experiences in niche markets and personal finance respectively. These case studies underscore the importance of tailored, digital-first strategies that speak directly to consumer needs—principles that Ramp embodies in its mission to optimize corporate spending.
In a world where the monetary industry is swiftly pivoting to meet the digital divide, Ramp’s system stands as a testament to the crucial role of interoperable, digital monetary infrastructure. It’s a distinct indication that the company is not only taking part in the monetary revolution but is actively influencing the future of how organizations interact with their finances.
Tala – Disrupting Small Business Lending in Emerging Markets
In the dynamic landscape of emerging markets, Tala stands out as a beacon of innovation, providing essential support to small enterprises through their mobile platform. Utilizing alternative data, Tala has crafted a unique model to evaluate creditworthiness, opening doors for entrepreneurs who might otherwise be overlooked by traditional financial institutions. This approach is not only bridging the credit gap but is also fueling economic growth by enabling small enterprises to flourish.
Take, for instance, the story of Edna, an enterprising salon owner and mother of two. Her journey in the beauty industry started just a few months ago, but her enterprise is flourishing. Tala’s support extends beyond just financing – it’s about nurturing dreams and creating job opportunities in local communities. Similarly, Lerato Motloung, a mother and supermarket worker, was able to purchase her first smartphone thanks to PayJoy, another startup focused on underserved markets. Such stories underscore the transformative impact of accessible lending on individual lives.
Alternative lending is experiencing a remarkable growth spurt, with the global market valued at USD 2.24 billion in 2021 and projected to soar at a 24.1% CAGR by 2033. Smaller enterprises are increasingly relying on these alternative lenders, which provide quicker access to funds, reduced bureaucracy, and more adaptable repayment terms. This change is apparent in Africa, where the increase in digital monetary transactions reflects the growing inclination for mobile money solutions, with transaction values rising from 26 percent to 35 percent of GDP between 2021 and the present.
These real-world examples and the surging statistics highlight a crucial trend: the power of alternative lending to make a significant difference in the lives of small enterprise owners and, by extension, entire communities. As the sector continues to evolve, it stands as a testament to the resilience and ingenuity of entrepreneurs in the face of traditional banking barriers.
TrueLayer – Pioneering Embedded Finance
TrueLayer is at the forefront of the embedded finance revolution, changing the way businesses integrate banking offerings into their products and applications. By streamlining access to monetary data, TrueLayer is not only promoting innovation; it’s revolutionizing the customer experience. Integrating banking and monetary operations into non-monetary platforms is now effortless, establishing a mutually beneficial connection between conventional monetary institutions and various other industries. This evolution is reshaping our interaction with money and the very nature of transactions. As we accept this change, the importance of open banking platforms like TrueLayer becomes even more evident, with one in nine Brits and 17% of small enterprises already utilizing open banking solutions. This surge in adoption underscores the efficiency, cost reduction, and innovative potential inherent in open banking. With embedded finance, we’re witnessing a departure from the old models, a trend that promises to democratize banking and customize financial solutions to the needs of businesses and consumers alike.
Fundbox – AI-Driven Financial Services for SMBs
Fundbox is transforming the way small and medium-sized enterprises (SMBs) access advanced artificial intelligence (AI) through their offerings. This innovative startup offers a range of tools, including invoice factoring and lines of credit, which are crucial for maintaining a healthy cash flow and promoting business growth. By embracing the era of embedded finance, Fundbox seamlessly incorporates these monetary offerings into its platform, making them more accessible and user-friendly for SMBs.
With the assurance of AI-powered hyper-personalization, SMBs can anticipate solutions for their finances that are customized to their specific requirements, aligning with the 61% of customers who seek personalized recommendations from their monetary providers. The influence of AI in banking isn’t just a passing fad; it’s transforming the sector, providing a banking experience that’s continuously evolving to better assist its users, with AI advisors that carefully analyze data to discover optimal strategies.
In the midst of a technological revolution in the field of finance, with AI and Machine Learning leading the way, Fundbox distinguishes itself by utilizing these technologies to support SMBs. The emphasis on AI isn’t only about advancement; it’s about establishing a fair environment where enterprises can function more effectively and securely, with financial solutions that adapt to their requirements. Fundbox’s commitment to this cause aligns with MasterCard’s dedication to supporting small businesses and fostering an environment where innovation thrives, ensuring that entrepreneurs have the resources they need to succeed in today’s competitive landscape.
Neo Financial – Digital Banking Innovation in Canada
Neo Financial stands out in the Canadian banking landscape with its state-of-the-art digital banking services. It’s not just about easy banking anymore; it’s about smart banking that aligns with your monetary goals. Imagine the convenience of instantaneous transactions any time of the day, akin to the Real-Time Rail system in Canada, where late fees from delayed bill payments become a thing of the past, and cash flow for small businesses is no longer a hurdle. Neo Financial embodies this vision by offering features like automated savings and enticing cashback rewards that cater to the savvy user.
With the Neo Money Account, you can bid farewell to the traditional constraints of savings accounts and enjoy a robust 3.75% interest rate combined with the flexibility of a chequing account. This hybrid approach to personal finance allows you to save diligently and spend wisely without punitive fees. The upcoming mobile check deposit feature is set to further elevate the Neo experience, offering unprecedented convenience.
Moreover, the Neo Mobile App breaks the mold of conventional banking by empowering users to access their funds seamlessly while avoiding unnecessary fees. The integration of AI-driven personalized insights ensures a banking experience that’s tailored to your money habits and goals. As the FinTech landscape evolves, with companies like Nubank leading the way in Latin America, Neo Financial is positioned to redefine Canadian banking by championing user empowerment and control.
Securitize – Blockchain-Based Access to Private Markets
Harnessing the power of blockchain technology, Securitize is leading a paradigm shift in the private markets. This innovative startup has transformed the way securities are handled by digitizing them, paving the way for fractional ownership. What stands out is how this approach is leveling the playing field, allowing a wider range of investors to partake in opportunities that were previously exclusive to institutional players. The brilliance of Securitize lies in its potential to enhance liquidity and provide unprecedented transparency, ushering in an era where investment is not just for the elite but accessible to all.
Embracing the ethos of a DAO-managed exchange, Securitize embodies the principle that economic freedom should be a universal right, untethered by social or geographical boundaries. It’s about empowering individuals to decide how they manage their wealth. Furthermore, the platform’s approach echoes the core values of carbon pricing, as it shifts the paradigm towards a more equitable distribution of wealth and opportunities.
In a world where network effects dictate value, as seen with technologies like the telephone or social media, Securitize is building a new kind of network in the economic domain. The more people join this network, the greater its value becomes, not just for individual investors but for the investment ecosystem as a whole.
Moreover, the tokenization of real-world assets is at the forefront of this movement. It’s a trend that’s gaining momentum, as assets ranging from real estate to company shares are represented in digital form. This digital representation isn’t just about ownership; it’s about creating a new layer of economic interaction, where assets are more than static properties—they’re dynamic instruments of investment and growth.
Experts in the field, like Ronaldo, a seasoned crypto enthusiast, and participants of the cypherpunk movement from the 90s, are recognizing the transformative potential of DeFi solutions like Securitize. They envision a future with digital, open monetary services, always-on and without borders—a future where tokenization isn’t just an innovation but a necessity.
These developments are supported by significant trends in the digital assets space, such as the rise of NFTs, stablecoins, and the burgeoning DeFi sector. The digital assets market is driven by the increasing adoption of blockchain technology and the desire for systems that operate independently of traditional institutions.
As we move forward, Securitize stands as a beacon of progress, demonstrating how innovative use of blockchain technology can democratize the investment landscape and create a more inclusive and fair financial future for everyone.
Harness – Continuous Delivery-as-a-Service Platform
Harness has emerged as a beacon of innovation for startups, streamlining the continuous delivery process with its cutting-edge technology. This transformative tool automates the release process, granting companies real-time insights into their software deployments, thereby propelling them to deliver top-notch applications with greater speed and consistency. Harness’s solution is not just about faster software delivery; it’s about empowering organizations like TBC Bank to achieve their digital ambitions—from enhancing customer experiences to international expansion and becoming a digital powerhouse. Similarly, for Delivery Hero, overcoming the logistical hurdles of managing a vast employee network becomes more manageable. Moreover, for companies like Tabcorp, dealing with a complex web of deployment challenges, Harness offers a beacon of hope, aiming to reduce the technical debt and streamline operations. Harness’s approach is akin to the pivotal role of CI/CD practices in SMBs, as it underscores the necessity for businesses to adopt agile methodologies to stay competitive in today’s dynamic digital arena. Harness not only symbolizes the evolution of DevOps practices but also stands as a testament to the transformative power of advanced automation, monitoring, and orchestration tools that are reshaping the software development landscape.
Reify Health – Cloud-Based Software for Clinical Trials
Reify Health is revolutionizing the clinical trial space with its cutting-edge cloud solution, which is designed to enhance efficiency in trial management by unifying all stakeholders. This innovative approach is not just a leap forward in technology; it’s reshaping the entire landscape of clinical trials. By offering a unified, integrated solution, Reify Health is tackling a crucial industry challenge: the fragmentation and complexity caused by the utilization of numerous separate systems. According to recent surveys, 60% of clinical sites manage more than 20 different systems, leading to inefficiencies and burnout. Reify Health’s system aims to simplify this, streamlining operations and potentially shortening the lengthy timelines associated with the development of new medical treatments. The implications of Reify Health’s solutions are profound, offering the promise of quicker access to new therapies and improved outcomes for patients. The system aligns with industry trends towards adopting the FAIR principles and robust software engineering practices, ensuring that clinical trials can keep pace with the demands of modern medicine and large-scale data analytics. As the industry continues to evolve, platforms like Reify Health’s will be pivotal in driving progress and supporting the sustainability of valuable research tools.
Nuro – Autonomous Delivery Solutions
Leading the charge in transforming last-mile delivery, Nuro has emerged as a beacon of innovation in the autonomous vehicle space. This forward-thinking startup is not only advancing the capabilities of self-driving technology but also redefining the convenience and safety of receiving goods. With a fleet of robotic vehicles, Nuro has captured the imagination of urban centers and businesses looking to streamline their delivery processes. These robotic couriers are not just a concept but a reality, as seen in the bustling streets of Vilnius where autonomous vehicles seamlessly integrate into daily traffic, proving the viability and necessity of this technology in contemporary logistics.
The journey of Nuro, starting in 2016, has been characterized by a steadfast dedication to enhancing delivery capabilities through automation. The original vision was compact, pod-like vehicles tailored for food transport. This specificity has evolved, with the R3 model now capable of carrying a diverse array of items, including piping hot pizzas and time-sensitive packages, fully autonomously. Partnering with industry giants such as FedEx and Domino’s, Nuro’s technology has become a tangible example of how autonomous deliveries can fit into tiny curbside spaces or navigate pedestrian areas, all without the need for a human driver.
This relentless pursuit of autonomous excellence is echoed in sentiments across the industry, where logistics operations are hailed as the cornerstone of the global economy. Revolutionary strides in retail logistics over recent decades have set the stage for a new chapter, where AI and robotics play pivotal roles in creating unprecedented customer experiences. As these technologies mature, they not only enhance operational efficiency but also create new avenues for customer support, as demonstrated by the adoption of generative AI for faster assistance and the implementation of advanced robotics to improve workplace safety and reduce employee strain.
In the landscape of third-party delivery, consumer reliance on these services for convenience and discovery of new dining options is growing. With online food delivery projected to burgeon from $1.22 trillion to $1.92 trillion globally between 2024 and 2029, businesses are recognizing the importance of adapting to this shift. Nuro’s advancements are a response to this trend, providing a glimpse into the future of urban logistics, where convenience, safety, and efficiency are paramount, and where the question on everyone’s mind is, ‘What’s next?’
Conclusion
In conclusion, Deel is revolutionizing international workforce management with its innovative platform. By seamlessly onboarding, compensating, and overseeing global teams, Deel provides companies with a strategic advantage in the global market. The platform’s comprehensive visa support and over 100 entities enable businesses to tap into a vast talent pool and hire anywhere in minutes.
The transformative impact of Deel is evident in the success story of Delivery Hero, which saw significant efficiency gains and resource savings after implementing Deel’s solution. Employer of Record services, like those offered by Deel, are crucial for navigating international compensation and compliance complexities.
As remote work becomes the norm, companies are recognizing the value of engaged and productive remote employees. Deel’s platform is designed to support this shift, offering not just a service but a strategic advantage. By providing access to local expertise and streamlining international hiring, Deel empowers companies to drive productivity and long-term success.
With Deel, businesses can embrace the opportunities of remote work while ensuring compliance and efficiency. The platform revolutionizes the way companies manage their global teams, enabling them to navigate international compensation and compliance complexities effortlessly.
In a world where remote work is thriving, Deel is leading the way in transforming workforce management. By leveraging Deel’s platform, companies can tap into a global talent pool, enhance productivity, and drive long-term success. Deel is reshaping the future of work by providing a streamlined approach to international hiring and empowering businesses to thrive in the global market.
