Jobandtalent Raises USD 250M Debt Facility to Enable Flexible Wage Payments to Workers
Jobandtalent secured USD 250 million debt financing from US investment banks Citi, Goldman Sachs and European investor AnaCap Financial Partners (AnaCap).
The debt financing will allow Jobandtalent to facilitate tangible benefits and enhance its foundation for innovative financial products offered to workers. For example, it will be used 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.
Jobandtalent was founded in 2009 in Madrid and harnesses the power of technology and data to connect people with a steady stream of work through a managed job platform, which tears down the barriers to job searching and hiring. In 2021 the company placed over 200,000 people on new jobs in over 2,000 companies, has the highest NPS in the industry and is operating in 9 countries across Europe, Latin America and the USA.
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Juan Urdiales, Co-Founder and CEO of Jobandtalent, said: “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.”
Today’s announcement follows a record quarter for growth financing, with Jobandtalent closing a $500 million Series E funding round led by Kinnevik and significant follow-on from existing investors in December 2021, which valued the company at $2.4 billion post-money. The debt financing program supports its global funding strategy and allows Jobandtalent to pursue its ambitious expansion plans to new markets.
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