Spanish SoftBank-Backed Unicorn Jobandtalent Secures €236.2 Million Debt Funding; here’s why

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Madrid-based Jobandtalent, an online recruitment marketplace for finding and filling gig-type jobs, announced on Thursday that it had raised $250 million (about 236.23 million euros) in a funding round by borrowing from US investment banks Citi and Goldman Sachs, and European investor AnaCap Financial Partners.

Previously, the company raised $500m (~€472.38m) from Kinnevik and SoftBank Vision Fund 2, closing its Series E round in December 2021. Additionally, it also raised $75m (approximately 70.87 million euros) of debt. funding from Blackrock. At the time, Jobandtalent was valued at 2.4 billion dollars (about 2.26 billion euros).

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Use of capital

The current debt financing round will allow Jobandtalent to facilitate tangible benefits and improve its base of financial products offered to workers. For example, the funds will help the company enable daily payments and free early access to salaries (applicable to most jurisdictions) in the coming months.

Jobandtalent hopes the funding will help it in its mission to reshape temporary work and provide the conditions for people to truly thrive.

Juan Urdiales, co-founder and CEO of Jobandtalent, says: “We remain committed to providing our workers with the best possible support in an increasingly flexible labor economy. We understand that current market conditions and macroeconomic factors such as inflation can be extremely challenging for them. We believe that many of our employees will benefit from early access to salary and flexible payment options to accommodate their personal finances and cover unexpected costs. We are proud to have been able to raise funds 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 workflow through a managed job platform and seeks to “remove barriers to job search and ‘hiring”. It’s a temporary jobs 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 offer our employees back-to-back opportunities to provide the stability and benefits 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.

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