Factorial, a Barcelona, Spain-based provider of a business and HR management platform for SMBs globally, raised $80M in funding.
Backers included General Catalyst.
The company intends to use the funds to continue to grow until becoming cash-generative with minimal constraints on the balance sheet.
Founded in 2016 and led by CEO Jordi Romero, Factorial offers solutions for small and medium businesses, automating processes from Core HR to Expense management, so they have more time to dedicate to the people within their organization. The company serves over 10,000 companies across Europe, US and Latin America.
Commenting on the new, Jordi Romero said: “As one of the fastest-growing software companies in Europe, we wanted the ability to keep our growth trajectory without ever needing an equity round. This partnership with General Catalyst is exactly what we were looking for. We can focus on building great products and helping more customers without worrying about fundraising.”
Factorial became Europe’s new unicorn in 2022 following a $120M Series C investment round.
FinSMEs
11/04/2024