Factorial Raises $120 Million at a $1 Billion Valuation

Factorial is a start-up that assists small and medium-sized businesses in human resource running. The main feature of the platform is that it offers its clients the same tools for performing HR as the big companies use. Factorial provides its customers with such services as hiring, payroll management, performance management, internal communication, etc.

Funding round Series C was led by Atomico. Among other participants were GIC, Tiger Global, CRV, K-Fund, and Creandum. Money raised will be used for building out more technology and product, the next launch is expense cards that is, as of now, in beta mode. Moreover, the company plans to use the new funding for geographical expansion and acquisitions.

Factorial, Barcelona, Spain was founded by Bernat Farrero, Jordi Romero, and Pau Ramon in 2016. The company has more than 7000 customers in Europe, however, the biggest segment is Latino – in total, 30 countries. “Everything we do is about user experience and making things simple for employees. You should be able to just onboard a customer or employee and run reports,” Jordi Romero, CEO of Factorial. In plans, Factorial is going to expand into an all-in-one platform for all employee-related things. With the new funding, the company became the latest Spanish unicorn.

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