Regional News

beWanted secures pre-Series A funding of €1.5M for South American expansion

By Silvia Castro Betancourt 0 Comments NEWS, Regional News

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

beWanted has just concluded a round of pre-series A financing of 1.5 million euros as a major milestone in 2018, making it a key step in its global growth. After finishing this investment round with the participation of the investment fund JoinVentures, the company is ready for its definitive establishment in South America and the consolidation of its business as a SaaS model.

After the beWanted round, the product will be taken to its next phase. After surpassing the three hundred and fifty thousand profiles in its platform, the job search engine's main challenge is to strengthen JobRank as the best model for categorizing candidates by search.

Juan Torroba, CEO of the company, has declared that "the new funding received by beWanted will help us attract more candidates and companies, to become the best way for students to enter the labor market."

The company, which has already received 800,000 euros last year in a first round of financing, has already accumulated 2.5 million euros invested in the project. With this latest round of financing closed in 2018, the project establishes the foundations of its future in the short and medium term.

Arrival in South America

Its international expansion, which already has a long-standing presence in Mexico, is posited as a clear path of growth. The arrival of new multinationals to beWanted's client base will allow it to make great strides in countries such as Argentina, Brazil, Chile, Colombia, Ecuador, Guatemala, Peru, the Dominican Republic, and Venezuela.

"This economic support allows us to go further and risk new markets where we believe that the formula proposed by beWanted will work," added Torroba.

With all this, by the end of 2018, it is expected to globally exceed the 500,000 profiles of candidates on the platform, as well as the 5,000 registered companies, which will allow beWanted to become one of the most important references in the search for university employment worldwide.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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