Maqqie plans up to EUR 20m Series A this year – CFO
Dutch online HR platform Maqqie plans to raise a EUR 10m to EUR 20m Series A by 4Q22 in exchange for a minority stake, CFO Rik Blokland told Mergermarket. Maqqie would welcome a group of three or four investors, either nancial investors who understand and are interested in the labour market or family ofces focused on longer-term investments, Blokland said. It will seek to hire advisors for a fundraise, he added. The company has recorded EUR 22m run-rate revenue so far in 2022, and generated EUR 13.5m revenue in 2021, he said, and targets EUR 60m for this year. He did not discuss its valuation.
Maqqie has raised EUR 9m so far in two rounds, including EUR 4m earlier this month, he said. Its shareholders are small entrepreneurs and wealthy individuals, as well as two strategic investors: Dutch platform for ex work Flexfamily, and recruitment company Abiant Holding, which are also regional partners, he added.
It will use the proceeds of the Series A to nance product development work including data testing, as well as for marketing; current clients are mostly smaller companies and it plans to bring larger ones on board, he said.The round will help Maqqie reach its goal of becoming the largest employer platform in the Netherlands in three to four years, after which it might consider expanding to other countries in the EU, Blokland said.
Maqqie’s digital work platform is for employees, employers, independent consultants and recruitment agencies, and it organises the entire hiring process, from recruitment to payment, in compliance with Dutch law. It derives revenue from contracts with employees and companies, and for now does not provide premium services, Blokland said.
It functions as both a short-term and a long-term employment site and app, which is included in 60 collective labour agreements in the Netherlands, and currently has 10,000 employees hired via its platform. Its digital services include payment on an hourly, daily and weekly basis, as well as invoicing, time and expense registration, according to its website.
The company does not have direct competitors as it uses contractual work agreements, while other platforms are either recruitment agencies or focus either on freelance work or separate segments of the labour market, Blokland said. Clients include Dutch football club De Graafschap, hospitality company Mise en Place and Dutch logistics company Dasko.
Auteur: Anastasia Gnezditskaia