Amsterdam-based HRtech startup Settly has raised €6 million in its first-ever external funding round. Along the lines of what Estonia's Jobbatical is working on, the modus operandi at Settly is to unburden employers looking to relocate employees internationally as well as provide an optimal experience for said team members.
Settly’s €6 million investment was provided by Marie Ekeland’s 2050 and Mediahuis Ventures, the venture arm of Belgian publisher Mediahuis.
According to Settly, 40% of international moves do not go according to plan, ultimately leading to a failed hire. Not only does this leave the organisation looking to fill a specified role with an empty seat and all the costs associated with the recruitment process, but also quite the upheaval for the recruitee and their family.
“Settly wants to change the way companies look at international talent, recruiting, culture, and community. We do this by not only offering support in immigration, tax, and soft landing but also by focusing on how people feel in their new country through a multi-local approach,” says Settly CEO and co-founder Marieke van Iperen.
Founded in 2019, the startup is active in the Netherlands, Germany, the UK, Spain, Portugal, the Czech Republic, and Australia, and counts Miro, Personio, and Bynder amongst its client base.
“It is our mission to change the way the VC model works and help grow businesses that have a meaningful impact on people, society, and the planet,” commented 2050 Founder Marie Ekeland. “Settly’s 3% churn rate and a client satisfaction score of 9.2 shows a strong need for a personalised approach in a market worth $58 billion among larger multinationals alone. The startup’s core values align seamlessly with our investment policy,"