The Romanian startup TJobs announced a seven digit investment from Earlybird VC’s Earlybird Digital East Fund (EDEF) and iEurope Capital’s Fund II. Both investors talked to inventures.eu about their motivation for the deal.
TJobs is a staffing portal for flexible employment throughout Central and Eastern Europe. The startup takes advantage of European labour mobility, which is a promising model to iEurope co-founder Laszlo Czirjak: “Tjobs’ disruptive approach to cross border staff leasing business is a step in the right direction to make this sector more efficient and transparent.”
Also Dan Lupu, partner at Earlybird VC, explained why they chose to invest in the Romanian service: “Tjobs is the first company to develop a scalable business model allowing it to quickly and reliably identify candidates for a large number of job profiles. Funding allows the company to service its clients in more markets in flexible ways (recruitment, temporary staffing).” With the help of their fund, Dan expects Tjobs to grow and expand to several countries and stated: “We are prepared to provide additional funding as the business develops.”
Tjobs aims to support European businesses in recruiting flexible employees for temporary or permanent jobs. Founded in 2009, they are present in countries like France, Great Britain, Germany and the Netherlands. The online staffing service aggregates over 500 traditional recruitment agencies in order to provide a large number of qualified candidates and make the recruitment process as easy as possible for their clients.
The funds behind it
Berlin-based Earlybird VC was founded in 1997 and has invested in businesses in more than 100 European countries. When the Earlybird Digital East Fund started to operate it added up to 113 million dollars. EDEF has financially supported four companies so far and plans to invest in 20 startups in the CEE region overall.
Also, US-based iEurope Capital’s Fund II focuses on innovative startups in Central and Eastern Europe from different technological areas. iEurope Capital was founded in 2001 and has offices in Budapest and New York. “Given the growth in this sector, we expect that Tjobs is well positioned to capture a significant part […]”, Czirjak explained.