Leopoldo Alejandro Betancourt Lopez Helps Spanish Startup Jobandtalent Expand

(Photo : Christin Hume)

Startups in Spain had a much easier time during 2021 than 2020. Dealroom reports that venture capital (VC) firms in that country raised a record $1.9 billion across 230 deals, double the figure for 2020. Four of these deals raised over $120 million, including Jobandtalent, Glovo, Wallapop and TravelPerk. These funding efforts shattered the existing annual record in Spain, making Jobandtalent a startup to keep an eye on in 2022.

Felipe Navio and Juan Urdiales founded the firm in 2009 to provide temporary workers with greater job security by offering them continuous employment with back-to-back contracts. Over 80,000 workers and 850 companies have used the Jobandtalent platform, including major employers like Ocado and Sainsbury's. Jobandtalent executives plan to use their funding to expand into new markets, especially in the US. Businessman Leopoldo Alejandro Betancourt Lopez has been a major investor in Jobandtalent and a key contributor to its rapid growth. 

Background

Jobandtalent's most recent fundraising effort was a series E round, which secured $500 million. Kinnevik was the major investor in this round, with SoftBank VisionFund 2 also providing a significant contribution. This total was the second largest ever raised by a Spanish company, after ecommerce platform Glovo raised approximately $540 million in a series F round earlier in 2021. Jobandtalent also raised an additional $100 million from BlackRock for the purpose of financing debt. 

This total provides Jobandtalent with a market value of about $2.35 billion, making it Spain's fourth-largest tech firm. Jobandtalent is also Europe's largest job platform overall, although it specializes in placing temporary workers in sectors such as ecommerce, logistics, manufacturing and warehousing. This company distinguishes itself from competitors in gig economy employment by providing workers with the benefits of full-time jobs, including security, sick days, health insurance and retirement funds. 

Jobandtalent's Workforce-as-a-Service (WaaS) platform is disrupting the temporary labor market by making people the center of employment. It also uses artificial intelligence (AI) algorithms to help match workers with roles. Jobandtalent's online format was especially useful during the height of the COVID-19 pandemic, when in-person interviews were often impractical. Urdiales says, "Even with the current pressure in the labour market, we are able to find and match workers with roles at a much higher success rate than others." He adds that flexible labor is becoming increasingly common, resulting in a growing need for workers to consistently find jobs as each one ends.

Jobandtalent is currently active in the following nine countries:

• Colombia

• France

• Germany

• Mexico

• Portugal

• Spain

• Sweden

• UK

• US

It began its expansion in the US during 2021, and will use its new capital to accelerate this process. In addition to expanding its market presence, Jobandtalent will increase its tech and sales teams significantly, and fill new executive roles. 

Business Development

Betancourt Lopez has invested in a wide range of industries over the past decade, although his primary focus has remained on technology. His most common strategies for developing business include expansion through branding strategies, especially leveraging social media. This approach has allowed Betancourt Lopez to ensure business growth in a variety of innovative ways.

Jobandtalent is one of Betancourt Lopez's most recent projects and one he is intensely passionate about. He believes the firm will be a game-changer in the staffing industry and has remained one of its largest shareholders since its inception. Betancourt Lopez has also played a key role in Jobandtalent's recent expansion into the UK, largely by helping to transform its platform. Jobandtalent was originally a basic job search site where job seekers and prospective employers could meet online in a dynamic job market. However, Jobandtalent has since evolved into a direct employer that handles the administration and payment of workers, in addition to providing the benefits of a full-time job.

About Leopoldo Alejandro Betancourt Lopez

Betancourt Lopez has dedicated himself to helping businesses reach their full potential throughout his career. He spent his early career in traditional sectors like energy, but co-founded his own company to provide thermoelectric power after realizing the benefits of technology for sustainable energy. Betancourt Lopez continued his entrepreneurship by establishing the O'Hara Administration in 2014. This investment management firm's portfolio now includes investments in many sectors.

Betancourt Lopez remains one of O'Hara's major shareholders, and he still sources investment deals with institutional investors and European banks. His overall goal with these investments is to develop technology through the acquisition of other companies. Betancourt Lopez is also the CEO and a major shareholder of Hawkers, a leading brand of fashion sunglasses.