Recruiter.com Group, Inc (OTCQB:RCRT) has announced a new Marketplace partnership with Fundomate, a provider for turnkey business funding solutions, to bring automated business funding to Recruiter.com’s US-based partner companies.
The company said it will utilize Fundomate's technology and expertise in the alternative lending space to provide its more than 27,500 small and independent recruiters with pre-approved, affordable working capital offers based on their business history.
“Accessing capital, especially for small and independent recruiters and staffing firms, has never been easy and given their structure, the new Payroll Protection Program is not able to assist their cash flow needs,’ said Recruiter.com Group CEO Evan Sohn said in a statement.
READ: Recruiter.com Group is building one of the world's largest hiring platforms
He added: “Fundomate is the ideal capital partner for Recruiter.com's community of over 800,000 recruiting and HR professionals.”
Fundomate CEO Sam Schapiro also weighed in on the partnership, stating: “Small businesses need a lifeline to cover expenses such as inventory, operating expenses, or marketing costs. Through the Recruiter.com marketplace partnership, recruiting and staffing firms will have an easy way of accessing affordable working capital and repay at their own pace with a percentage of their daily sales.”
Recruiter.com Marketplace provides its community of independent recruiters and partner companies with value-add services, such as low-cost healthcare for independent business owners, tech-forward marketing tools, background check services, co-working space, to name a few.
Recruiter.com Group is in the business of helping to streamline the hiring process for employers and job seekers alike. The company’s diverse network of more than 27,000 recruiters helps organizations reduce recruiting costs and shorten recruiting cycles with access to on-demand recruiting and AI and video technology.
Essentially, Recruiter.com aggregates smaller hiring firms and independent recruiters under a common platform and provides them with access to more clients and technology.
Contact Sean at sean@proactiveinvestors.com