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View All NewsAustralia – Venture firm Fatfish invests in online staffing platform
Internet ventures firm Fatfish Internet Group Ltd has invested AUD 50,000 (USD 39,440) in Nvoi Limited, an Australian fully managed online staffing platform for the temporary and contract workforce, reports digitalnewsasia.com.
Fatfish is one of a number of investors who participated in a seed round investment of AUD 400,000 (USD 315,554), ahead of Nvoi’s planned public listing in 2015.
Nvoi is a cloud-based platform designed to improve and change the way hiring managers find, engage and manage on-demand, white-collar, on-site, temporary, and contract workers, with a simple flat fee per hour worked regardless of salary level.
The platform allows hiring managers to post assignments and to directly connect, engage, conduct online interviews and contract for work arrangements with candidates; and, with Nvoi as the employer of record, manage timesheets, compliance and payroll on a single, streamlined platform.
Acording to the company unlike job boards Nvoi offers and end-to-end solution through its marketplace and its workforce management system, managing the entire hiring, compliance, employment, and payment cycle.
Lau Kim Wai, Group CEO of Fatfish, commented: “With more than 25% of the Australian workforce now under contract or temporary staff, Nvoi has huge investment appeal to us. The company is capitalising on a global shift towards a greater proportion of the workforce in contingent work, and the platform has been developed to help businesses manage this shift.”
“This is a business which has embraced the digital age and will significantly disrupt the traditional staffing agency model and job boards,” he added.
The Nvoi platform was launched in November 2014 and has since attracted more than 12,000 candidates and 1,200 companies.
Lindsay Rowlands, Managing Director of Nvoi, stated: “With the funds we’ve raised in this seed round, we have expanded our successful marketing and sales efforts to further scale the platform and attract even higher numbers of registrations and job posts.”
“Online intermediation directly between parties is today common in many product and service areas, and Nvoi has now brought it to the staffing industry.”
“There is a huge market opportunity for us globally in the full range of white collar non-permanent on-site job roles, and this investment from Fatfish Internet Group will help us realise our goal to bring a full service staffing platform and marketplace to the millions of companies with contingent staffing needs,” she added.