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UK – London recruitment start-up Syft lands £6 million in funding boost

08 September 2017

London-based online staffing platform Syft has closed £6.1 million in Series A funding led by original Spotify investors Creandum, PROfounders Capital, Colle Capital, alongside existing angel investors heavyweight boxer David Haye and Lord Young, the ex-Secretary of State for Trade and Industry under Margaret Thatcher.

The recruitment app was launched in November 2015 by Novo Abakare and Jack Beaman, and helps hospitality and events firms across London, Manchester and Leeds to find fully trained, flexible staff. With this funding round the app is now set to expand into Liverpool, Leeds and Birmingham, and launch into the warehousing and industrial sectors.

Syft says it allows job seekers to choose when and where they work and see what the role involves prior to their shift. The app also claims its positions pay an average hourly rate  of £9.37. In its site, Syft also claims, “By removing the middleman, temp agencies, and connecting employers directly to professional workers, Syft charges only a 15% fee on top of worker wages.”

The £6.1 million funding boost follows a £2.65 million seed funding round in August 2016.

Syft is in a unique category of online staffing platform. which Staffing Industry Analysts defines as ‘Just-in-Time’ staffing. Corporate members can read a detailed overview of this interesting category of workforce intermediary in our research report, ‘Just-in-Time Staffing – Thinning the Line between Human Cloud and Staffing’