Madrid-based temporary job platform Jobandtalent has secured $250 million debt ﬁnancing from US investment banks Citi, Goldman Sachs and European investor AnaCap Financial Partners to connect people with a steady stream of work.
The debt financing comes on the back of the startup’s $500 million Series E funding round in December 2021, which valued the company at $2.4 billion. The new cash will go a long way to support the platform’s global funding strategy and drive its expansion plans in new markets.
Going forward, the startup will enable daily payments and free early access to wages in the coming months. London’s SteadyPay, which recently raised $5 million in a Series A funding round and the Netherlands-based YoungOnes are also working in the same direction.
Founded in 2009, the Spanish platform aims to reshape temporary work. It 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. Operating in 9 countries across Europe, Latin America and the U.S., the company placed over 200,000 people in new jobs in over 2,000 companies in 2021.
Juan Urdiales, co-founder and CEO of Jobandtalent, said: “We are 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. 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.”