Factorial and its business management software continue to grow. General Catalyst has once again trusted the Barcelona unicorn with a new credit and has injected another 120 million dollars (about 110 million euros at the current exchange rate). Last year, the US fund granted it another loan worth 75 million euros. Focused on an intensive growth phase, the startup has not yet reached profitability.
The investment comes after the startup, which was born with a focus on human resources, expanded its customer base to more than 13,000 companies during the last fiscal year. A growth in customers, but also in markets, which is leading it to strengthen the team with about 50 new hires per week, with the goal of reaching 1,300 employees in a few months. Currently, it has a workforce of more than 1,000 employees.
"Factorial's efficient and predictable growth allows us to pursue ambitious expansion without diluting our ownership, which is uncommon," says Factorial CEO and co-founder, Jordi Romero. "It's rare to see a company grow as fast and as efficiently as Factorial has in 2024. Its ability to scale sustainably without losing its capacity for innovation made this an easy decision for us," adds General Catalyst Managing Director, Pranav Singhvi.
With the resources obtained, Factorial does not rule out new company acquisitions and wants to consolidate its technology in other markets, especially by strengthening its presence in Germany, France, and Italy. Founded in 2016 by Jordi Romero, Bernat Farrero, and Pau Ramon, the startup is present in a dozen countries, including Portugal, the United Kingdom, Mexico, Brazil, and the United States.
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