Randstad Innovation Fund (RIF) is making its second investment, this time in twago, the largest pan-European online marketplace for freelance work. RIF is Randstad’s strategic corporate venture fund to invest in HR technologies, which ensure future, innovative solutions to make HR processes more efficient and bring fresh answers to HR challenges. RIF’s first investment was in Gigwalk as communicated on March 20, 2014.
twago stands at the forefront of the modern workplace, enabling small and large companies to go online to find expert freelancers and collaborate on projects. Examples include website development, online marketing, mobile app developments, and data entry projects. Companies post their projects for free. twago focuses on seven European countries, most notably Germany, the UK, Spain, Italy and France. There are over 255,000 experts and agencies in 190+ countries, offering their services on the platform. Since inception, twago has generated over € 250 million in project volume.
With this investment, we recognize the trend of remote freelance work via platforms. The market of online platforms for freelance projects has great growth potential. This way of working eliminates geographical borders for project work and gives SME companies access to experts worldwide.
RIF intends to build a portfolio of multiple smaller investments over the next couple of years. The fund will invest in the following areas: social sourcing, online platforms, mobile solutions, virtual solutions, gamification and big data analytics. Visit Randstad Innovation fund more information.
about randstad
Randstad is a global talent leader with the vision to be the world’s most equitable and specialized talent company. As a partner for talent and through our four specializations - Operational, Professional, Digital and Enterprise - we provide clients with the high-quality, diverse and agile workforces that they need to succeed in a talent scarce world. We help people secure meaningful roles, develop relevant skills and find purpose and belonging in their workplace. Through the value we create, we are committed to a better and more sustainable future for all. Headquartered in the Netherlands, Randstad operates in 39 markets and has approximately 40,000 employees. In 2023, we supported 2 million talent to find work and generated a revenue of €25.4 billion. Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.randstad.com.
for more information
Elise Martin-Davies
+31 (0)6 1322 5136
press@randstad.com