Zenjob, a marketplace that connects students and others looking for jobs in retail, logistics and hospitality with employers, has closed a $50m Series D funding round.
According to a report by TechCrunch, the round was led by Aragon with participation from all Zenjob’s existing investors, including Acton Capital, Atlantic Labs, Forestay and Axa Venture Partners.
Founded in 2015, the startup directly employs temps, taking care of associated admin. It also offers temporary workers a pledge that it will pay out half their salary within 72 hours after a fulfilled shift — potentially speeding up remittance versus a traditional agency.
Zenjob currently has more than 2,500 companies, across 10,00+ locations in its two active European markets signed up to its platform, and over 40,000 workers using the platform each month.
The new funding will be used for expansion within Europe, including the UK market, where it plans to launch this summer. The capital will also be used for product development, including new data-based automation features, which it says are in the works to serve the needs of its expanding customer base, such as by supporting new “white collar” style job categories.
Zenjob said, “When you look at the market, we just scratched the surface when it comes to using technology to handle the tasks that make staffing and job search tedious and slow. That’s why we focus a lot on the internal technological development of our platform and all required processes. We have currently roughly 75% fully automated processes and our aim is to get north of 95% in the near future.”
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