Madrid/London, 24 October 2024 – Job&Talent, a world-leading marketplace for essential work, is excited to announce the successful closing of a EUR 250 million working capital facility from Barclays and Fasanara Capital in the form of a trade receivables securitization. This significant financial milestone marks a new chapter in Job&Talent's growth trajectory, as it allows the company to streamline multiple existing facilities into a single efficient global working capital financing line, greatly supporting the company’s long-term growth.
The trade receivables securitization is a strategic financial vehicle that enables businesses like Job&Talent to leverage the time gap between paying workers’ salaries and collecting payment from clients. By having a strong working capital facility in place, Job&Talent can achieve sustainable growth as the company continues to enhance its service and product offerings. The new financing facility has an initial term of three years, with two optional extensions.Â
Juan Urdiales, Co-Founder and Co-CEO at Job&Talent, said:
With the new facility, we are able to achieve further business growth and scale our operations efficiently. It not only highlights Job&Talent's financial strength and stability, but also reflects the confidence and trust that our financial partners have in our business model and growth prospects. We are committed to continuously driving innovation in the temporary staffing industry, while delivering exceptional value to both our clients and workers.
*PJT Partners acted as financial advisor in the transaction. Linklaters, Mayer Brown and Hogan Lovells acted as legal advisors in the transaction.
