Jobandtalent, the Spanish company that was born in front of a white mocha coffee and today is worth 2,000 million euros | Business | The USA Print

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In 2016, the founders of Jobandtalent, Juan Urdiales and Felipe Navío, laid off a third of the workforce. The temporary work digital platform went from 350 to 230 employees in a kind of personality crisis. The company was looking for itself. Couldn’t stand out from the competition. Until that year, with the help of Félix Ruiz, they evolved into what they call a marketplace transactional. They went from matching job offers with the most suitable candidates to managing the entire selection and hiring process of companies, including contracts and payroll. The restructuring of the team was hard, but successful. Success came fast. Invoicing multiplied by 10 in one year, reaching 49 million. The growth has been unstoppable since then, with 980 million euros invoiced in 2021 and a positive operating result (EBITDA) in the nine countries where they operate. With 2,000 people on staff and a valuation of 2,000 million euros, according to its latest round of financing, it is already one of the few Spanish unicorns. Their next target is the United States, where they landed last summer with high aspirations.

Jobandtalent’s growth is at its peak. Last year they raised 688 million in investment rounds. In 2022 they are already growing beyond 100% per year, so billing forecasts have shot up to more than double that of 2021. “In the last five years we have reached the best possible scenario. We hardly even contemplated growing so much, ”he says, with some surprise and from London, Urdiales, today co-executive director, a position he shares with Navío. Born in Ronda (Málaga), he now spends most of his time telecommuting in Marbella. From there he directs a team divided between Barcelona, ​​Berlin, Amsterdam, London and Madrid. With a multitude of daily meetings, he says that both he and his partner have the same entrepreneurial mentality as a decade ago, but that the solidity of the company allows them to face the next stage with greater confidence. “We are the largest company in Europe in this sector and we want to grow in North America to be global leaders,” he says with a smile. To achieve this greater international momentum, the company has just appointed Jon Kamaluddin Chairman of the Board of Directors. Kamaluddin has experience driving the international growth of tech start-ups such as Klarna, Farfetch and ASOS.

The company, which is backed by investors including SoftBank, Atomico, Seek and Kinnevik, was hatched in 2008 over a white mocha at a Madrid Starbucks. Urdiales had created Pluscuamperfecta during his university studies and, despite the fact that Spain was going through a financial crisis and unemployment was skyrocketing, his biggest problem was recruiting talent. That year he met Felipe Navío, who worked at Tuenti and had the idea of ​​creating an employment platform. They both dropped everything to focus on that project. They developed it with the idea that each job offer would reach the most similar candidates. On this philosophy they have been growing, expanding services to those who opt for a job and facilitating the management of human resources for companies looking for workers. They only do it in the logistics and light industrial sectors. These represent, according to the company, 40% of the labor market. They prefer to continue delving into them before taking the leap into new fields.

In the immediate term, his attention is focused on the United States. They arrived in the summer of 2021 after acquiring InStaff for $29.5 million. “Now we need to settle down, get traction and grow. We aspire to be global leaders in our sector”, emphasizes Urdiales, whose company is present in the United Kingdom, Mexico, Colombia, Germany, France, Sweden and Portugal. Jobandtalent also looks to the future with the idea of ​​strengthening its value proposition for users, the workers. They intend to improve their services through financial, training and insurance products. To this end, they plan to increase their engineering team and even value the acquisition of technology companies with experience in said services.

In 2021 they managed some 200,000 contracts in the nine countries in which they have a presence. The data they manage indicates that in those territories and in the sectors they operate there is capacity to contract 100 times more, hence they believe that they still have a long way to go. “Our figures are large, but they are still dwarfs for the market we are in”, underlines Urdiales. In 2022 they aspire to exceed 400,000 contracts. To achieve this, the company works with some 2,000 large companies with a high volume of contracts, which just as often need to hire 20 people at once than 500, as was the case at the beginning of May with the Starlite festival in Marbella. Amazon, XPO Logistics, Ocado, Decathlon, Santander or El Corte Inglés are some of its clients. They want more. And that is why they also enhance their commercial strength. “With more companies, the worker will find a job more easily and will have more options to be employed most of the time,” says the co-executive director of Jobandtalent, whose staff owns the majority of the shareholders.

Business model

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The business model is simple. Although the publication of job advertisements is free for any company, they then pay Jobandtalent a margin for each hour of work of the people they hire through the platform. In return, it is a free service for the worker, who only has to register in the application, fill in the forms and attach their documentation. The application then takes care of presenting offers tailored to your profile.

“The idea is that they don’t have to sign up for a hundred to be hired at one. We try to keep them few, but with many possibilities that they will help them start working quickly”, explains Urdiales, who emphasizes that the contracts comply with the standards of labor regulations and sectoral agreements. Adapting to the regulations of each community or country is one of the most complex aspects of your business: the slightest modification must be reflected in your application immediately. “Being up to date is one of our keys,” says Urdiales, who believes that in a few years they could go public. “We want to be an independent company and, for this, we may have to be a listed company,” concludes the businessman.

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