Madrid-based Jobandtalent, an online staffing marketplace for finding and filling gig-type jobs, announced on Thursday that it has raised $250M (approximately €236.23M) in a debt financing round from US-based investment banks Citi and Goldman Sachs, and European investor AnaCap Financial Partners.
Prior to this, the company raised $500M (approximately €472.38M) from Kinnevik and SoftBank Vision Fund 2, closing out its Series E round in December, 2021. Additionally, it had also secured $75M (approximately €70.87M) in debt financing from Blackrock. At the time, Jobandtalent was valued at $2.4B (approximately €2.26B).
Capital utilisation
The current debt financing round will allow Jobandtalent to facilitate tangible benefits and enhance its foundation for financial products offered to workers. For example, the funds will help the company to enable daily payments and free early access to wages (applicable to most jurisdictions) in the coming months.
Jobandtalent expects the financing to assist it in its mission of reshaping temporary work and providing the conditions for people to truly thrive.
Juan Urdiales, co-founder and CEO of Jobandtalent, says, “We stay committed to giving our workers the best possible support within an increasingly flexible work economy. We understand the current market conditions and macroeconomic factors such as inflation can be extremely challenging for them. We believe a lot of our people will benefit from having early wage access and flexible payment options to accommodate their personal finances and cover unexpected costs. We are proud to have been able to raise financing to support this commitment.”
“Connecting great people with endless opportunities”
Founded in 2009 by Felipe Navio and Juan Urdiales, Jobandtalent uses technology and data to connect people with a steady stream of work through a managed job platform and looks to ‘tear down the barriers to job searching and hiring’. It is a temporary job platform that claims to connect ‘great’ people with a steady stream of work.
The company says, “We are reshaping temporary work and creating the conditions for people to truly thrive. We provide our people back-to-back opportunities, in order to provide the stability and perks associated with long-term employment.”
Companies such as DHL, FedEx, XPO, Ceva Logistics, eBay, IKEA, Kuehne & Nagel, JD Sports, Ocado, Sainsbury’s, Argos, and GLS use the Jobandtalent platform to match the right temporary roles with the right workers.
