Factorial, a Barcelona, Spain-based provider of an HR automation tool, raised €2.8m in funding.
Backers included Creandum, Point Nine Capita, and K fund.
The company intends to use the funds to continue to expand operations and its development efforts.
Co-founded by Jordi Romero, Bernat Farrero and Pau Ramón, Factorial is a human resource software company that offers a cloud tool to automate, manage, and understand payroll and employee contracts. It connects directly with public administrations and allows managers and labor experts to interact and draw conclusions in real time.
Factorial currently offers its human resources tool for free to more than 20,000 companies throughout Spain. In addition, it facilitates a comprehensive work management plan, which includes the generation of payslips, work counseling and flexible compensation plans and benefits under a single subscription model, with a fully integrated labor agency within the platform.