In the era of hybrid work there is a new unicorn of business management: the Barcelona factorial startup

In 2020 and in full pandemic a technological startup of Barcelona called Factorial He lived his particular turning point. The company had an attractive and versatile online platform for human resources management, and the confinement gave a unique opportunity to make potential clients known: it offered its platform for free until confinement passed, and that made many known and realized how well that platform could work while the teleworking became strength.

His CEO, Jordi Romero, explained So how many of the new clients who registered in factorial maintained their management in local files or at most “in a dropbox folderbut nothing more. “In April the firm achieved an investment of 16 million dollars of CRV, but that was a stressful round. Just before the pandemic came the company had” an agreement between knights (with CRV), so to speak, “Romero commented,” but the money had to be transferred yet. “

The decision to offer its platform for free was a success, and many companies verified the benefits of that comfortable online management that allowed everything very well organized and accessible in a simple way. At that time that round was the largest that was seen in Spain, and it happened at a time when the labor market was in a certainly strange situation.

Factorial took advantage of something that no other company in the sector had previously taken advantage of: His platform was perfect for companies that or did not have HR professionals for being too small, or that if they had them were overcome by the workload or by having to make those tasks with others of management. The factorial solution precisely solved the problem, and that marked a before and after for her and her clients.

New and important investment rounds

After that round starring CRV, 18 months later factorial became one of the protagonists of the Spanish technological sector. In September 2021 the general investment firm Catalyst bet 80 million dollars for her and confirmed her remarkable projection.

This bet was a success: the factorial growth has made it one of the most promising technological startups in our country. A year later, factorial lifted another 120 million dollars in a round with the majority participation of Atomico, but also of GIC, Tiger Global, CRV, K-Found and Creandum. That made it a de facto “unicorn”: its valuation was already 1,000 million dollars, twice what was a year earlier with the previous round.

The company, which then had 7,000 clients in Europe and in Latin America – where those first years had its great focus— has not stopped growing And he has had a especially notable 2024. His number of customers is now 13,000 SMEs, and has just given another great news: General Catalyst, which as we said already invested 80 million dollars in it, has expanded that investment at $ 120 million, so that the total bet It becomes 200 million dollars.

It is striking that this extension of the investment is carried out without diluting the capital of its shareholders. Jordi Romero, CEO of Factorial (on the left in the image with Bernat Farrero, another of the co -founders) explained how that is “something uncommon in hypercrection companies that, in addition, are financially sustainable.” Pau Ramón, the third co -founder and exco from the company, abandonment Factorial in 2023 for personal reasons.

The funds, as those responsible for Factorial point out, will go to the expansion of the firm in Germany – where it is growing especially fast – France and Italy. Not only that: they will allow this firm to give the final impulse in a transition in which they have been working for years: to go from being a human resources software to a large business management platform.

SANNED ACCOUNTS AND OWN RISK CAPITAL FUND

They hope to reach about 20,000 clients before the end of the year, Romero said In the countryand its forecast is to exceed 100 million dollars of recurring income this year. As indicated in that article, 2024 has been the first year in which the company has grown up without consuming its own resourcessomething especially important to consolidate the profitability of the company.

The firm had at the end of 2024 with 90 million dollars of cash reserves, something striking because it shows the financial solidity of a company that is capable of growing without practically boxing of cash. The investment round seemed almost unnecessary, but according to Romero that allows factorial to “continue its expansion without compromising its financial stability or diluting the capital of its shareholders,” as we mentioned earlier.

The company has no immediate plans to go over – “We are not in a hurry,” Romero explains – and does not seem interested in inorganic growth inking or buying other companies. What they do, explained those responsible In araIt is to bill 1,000 million euros in five years.

And although the exit to the parquet is for now an unknown, what those entrepreneurs have done has been, as they pointed out In the avant -garde, Create a risk capital fund of 15 million euros with which they want to finance emerging companies.

It’s called Itnig Capital, and He has already invested One million euros in nine Spanish companies. The “Startup factory” of Factorial seems to have started with good foot, and is helping that new firms created by former factorial employees take their first steps, as pointed out expanding A few months ago.

Growing, but with comparatively low wages

During all this factorial time it has evolved. Its creators began working on a human resources platform to manage both employees and various administrative tasks, but in recent times they have become a “Comprehensive Business Management Platform“That allows the management of projects, training and control of expenses.

Romero, Farrero and Ramón shared the same frustration when creating factorial: that in many companies there was little technology that helped to climb companies and at the same time recruit talent. The solutions that were at that time did not help SMEs comprehensively, and launched. As explained Rosemary,

“Our mission is to help companies make better data -based business decisions. That means that solving HR

The company also states be reinforcing Your team with up to 50 new hiring per week. The objective, they say, is to reach 1,300 employees in a few months – his template was at the beginning of the year the 1,000 – confirming the rapid growth of the company.

This growth is contrasted with a singular fact: factorial is according to a Manfred study One of the Spanish technology What less pays comparatively to their engineers. In fact, in that comparison it is revealed that factorial has wages that are approximately half than those of other companies such as Cabify, Glovo, N26 and Alan.

Image | Factorial

In Xataka | If your chair holds in a job interview, it is no accident: they are evaluating more than your curriculum