The digital staffing service from Germany — Zenjob — has successfully secured a Series C funding round of $30 million (€27 million). The lead investor is Forestay Capital, who are joined by existing investors Redalpine, Acton Capital, Axa Venture Partners and Atlantic Labs.
Expansion in further cities & investment in new efficient technologies
The new financing will primarily be used to support expansion into further cities in Germany. Zenjob plans to roll-out its digital recruiting technology throughout the country by the end of the year and subsequently expand internationally. Currently, the Berlin-based business’ services are deployed and used in 14 German cities.
As well as this geographic expansion, the new funding will also be used to develop the technology behind the service. Zenjob allows its customers to achieve high-efficiency gains by making the entire process of temporary staffing easier, from finding the best personnel, right up to the billing process for their work. Algorithms will further help to predict staff demand in the future.
Fritz Trott, Co-founder and CEO of Zenjob comments;
“We continue to invest further in our technology and expansion. Soon, more companies across Germany and Europe will be able to book staff by the hour and with fewer than 24 hours’ notice. The same applies to employees, particularly students, who also benefit from the flexibility and ease-of-use that Zenjob’s technology provides. Instead of paperwork and unnecessary interviews, a student goes directly to the right job with the help of the app. The coronavirus crisis requires social distancing, which has created increased demand for staffing in, especially, logistics and retail. Our service means that we can assist in the almost effortless digital hiring of hundreds of new students every day to fill these gaps.”
Forestay Capital’s Managing Partner, Frederic Wohlwend, said:
“We are delighted to have invested in Zenjob and are very much looking forward to working with Fritz and his highly talented team. Zenjob is a company that has deployed disruptive technology to shake-up the temporary employment market and which, prior to this coronavirus crisis, had already proven itself to have an exciting future. Now, during this pandemic, its flexible digital recruiting service has, in our eyes, further been confirmed as a model for keeping the working world moving.”
“It’s great to see Zenjob going from strength to strength since the early days. We strongly believe in Zenjob’s unique digital offering in the temp staffing market. The team has built a very powerful platform to match high-quality temp staff with businesses, quickly and flexibly across all industries. This financing round is an important milestone for the company to further strengthen its market position in Germany and expand internationally.” adds Harald Nieder, Partner at Redalpine.”
Through the use of its app, Zenjob supplies student employees to large and medium-sized businesses in logistics, retail and office work. New customers are digitally introduced to the processes and can then order staff using the online booking portal. This enables companies to find short-term staff quickly and flexibly with the ability to react to short-term needs or seasonal fluctuations. Job Candidate Matching allows students to find a job near to them on the same day. The app reaches 15,000 students daily.
Zenjob is a digital staffing service that provides temporary work to students and employees to companies. Using the Zenjob app, students find and book jobs on an hourly basis and can flexibly decide when, where and for whom they work. Each month, more than 15,000 students are employed in sectors such as logistics, events, retail and catering. Zenjob was founded in 2015 by Fritz Trott, Cihan Aksakal and Frederik Fahning in Berlin and currently employs 250 people.
— Press release
Main image credits: Zenjob
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