Today the digital staffing service, Zenjob, has successfully secured a Series C funding round of €27 million. The lead investor in this round was Forestay Capital, who is joined by Redalpine, Acton Capital, Axa Venture Partners and Atlantic Labs.
Zenjob was founded in 2015 by Fritz Trott, Cihan Aksakal and Frederik Fahning, and has since become a team of 250 people. Their main goal is to act as a digital staffing service that provides temporary work to students, as well as helping companies on the other side find employees. Using the Zenjob app, students can find and book jobs on an hourly basis and can flexibly decide when, where and for whom they work. Each month, more than 15,000 students are employed in sectors such as logistics, events, retail and catering.
Currently, the startup’s services are deployed and used in 14 German Cities. The new funds raised will primarily be used to support their expansion across more cities in Germany, as well as subsequently expand internationally. As well as this geographic expansion, the new funding will be used to develop the technology behind the service, using algorithms to further predict staff demand in the future.
Fritz Trott, co-founder and CEO of Zenjob comments: “We continue to invest further in our technology and expansion. Soon, more companies across Germany and Europe will be able to book staff by the hour and with fewer than 24 hours’ notice. The same applies to employees, particularly students, who also benefit from the flexibility and ease-of-use that Zenjob’s technology provides. Instead of paperwork and unnecessary interviews, a student goes directly to the right job with the help of the app. The coronavirus crisis requires social distancing, which has created increased demand for staffing in, especially, logistics and retail. Our service means that we can assist in the almost effortless digital hiring of hundreds of new students every day to fill these gaps.”
Forestay Capital’s Managing Partner, Frederic Wohlwend, said: “We are delighted to have invested in Zenjob and are very much looking forward to working with Fritz and his highly talented team. Zenjob is a company that has deployed disruptive technology to shake-up the temporary employment market and which, prior to this coronavirus crisis, had already proven itself to have an exciting future. Now, during this pandemic, its flexible digital recruiting service has, in our eyes, further been confirmed as a model for keeping the working world moving.”
“It’s great to see Zenjob going from strength to strength since the early days. We strongly believe in Zenjob’s unique digital offering in the temp staffing market. The team has built a very powerful platform to match high-quality temp staff with businesses, quickly and flexibly across all industries. This financing round is an important milestone for the company to further strengthen its market position in Germany and expand internationally,” adds Harald Nieder, Partner at Redalpine.