Singapore-headquartered Workmate, which offers an end-to-end online staffing platform, announced today that it has received a US$10 million loan from the UK-based lending platform Lendable.
This news was first reported by Tech In Asia.
The startup has raised a total of US$15.2 million so far from a slew of investors, including Atlas Ventures, Gobi Partners, and Beacon VC, the corporate venture capital arm of Kasikornbank,
With the fresh funds, Workmate intends to onboard more workers in Indonesia and Thailand.
Founded in 2015, Workmate aims to make it easier for companies to find reliable and consistent blue-collar employees.
The way it works is that all workers are pre-screened by the startup before being made available for hire on the platform, in order to ensure quality and safety.
Businesses then request staff through the platform and are matched with workers nearby who have the required experience. They can view each worker’s experience, ratings, and performance history, before confirming which workers they want.
The platform also manages contracts, attendance, timesheets, and worker payments.
In addition to that, workers also receive protection from wage fraud and are provided social security, insurance incentives, and access to financial support.
“The traditional staffing model is very manual and has very little technology adoption, it hasn’t changed much in 40 years. It’s a big market that is ripe for disruption. This model is gaining traction internationally – even Uber has just announced it launched a staffing solution called Uber Works in the US,” Mathew Ward, co-founder of Workmate, had previously stated in a press release.
Image Credit: Workmate
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