Flexible staffing app Syft secures £6.1m in funding
Recruitment app Syft has secured £6.1 million in Series A investment funding.
Launched in November 2015, Syft offers an online staffing platform for the hospitality and events sector in London, Manchester and Leeds, cutting out the need for traditional agencies.
The round was led by Spotify’s first investors Creandum and also includes backing from PROfounders Capital and Colle Capital alongside existing angel investors such as boxer David Haye and Lord Young.
It takes Syft to £8.7m total funding in 20 months.
Johan Brenner, general partner at Creandum and one of Europe’s most experienced investors and entrepreneurs, has also been appointed on to Syft’s board of directors.
He said: “Syft has become the best marketplace for temp workers thanks to a beautiful product that fits companies of all sizes and workers with varying skill sets.
“What sets Syft apart is a winning combination of a top-notch team, excellent product, and a model that addresses all the shortcomings of traditional temp agencies.”
Syft co-founder Jack Beaman added: “Attracting a fund of the standard and reputation of Creandum is not only very exciting for us, but also for the UK start-up scene.
“It’s exciting that we continue to see large funding rounds coming into the UK after the Brexit vote.
“This round will help us consolidate our position in the UK, expanding nationwide and launching new sectors.”
London-based Syft gives employers direct access to high quality, fully trained staff via its app. It claims that this allows employers to view a range of job seekers with varying experience at an average cost of 55 per cent less than a traditional temp agency.
Benefits like these have drawn clients such as Compass Group and Lord’s Cricket Ground to Syft, with more than 4,000 job seekers on the app.
BELOW: Flick through the Q2 2017 edition of BusinessCloud's interactive digital magazine