BASIC COMPANY INFORMATION
Name of company: Factorial
Name and position of the person responding:
Jordi Romero de Villalonga (CEO)
Brief description of company and business model
Small and medium-sized businesses do not have the time, the people or the resources to properly manage their employees and processes in the same way large companies do. All employees deserve to be treated equally, regardless of the size of the company. We believe that there is a way to use technology to equalize human resources for small and medium-sized businesses.
Specifically, human resources departments in small businesses do not have the right tools to manage payrolls, employee vacations, careers in the company, or to take advantage of intelligent ways to compensate them.
CEO + Founding team. Brief description of trajectory
The founding team (Jordi, Pau and Bernat) have been working in the Software as a Service and B2B e-commerce industry in companies with a global scope: Redbooth and Camaloon.
Redbooth is a Project Management Software as a Service founded in Barcelona that moved to San Francisco. Jordi and Pau grew the team to almost 70 people with $30,000,000 in venture capital investment. Redbooth was sold off in 2017. Camaloon is a leading personalized printed product e-commerce operating in several European countries with over 100 employees, generating profits and rapid growth.
Year of incorporation: 2016
No of employees: 18
Jordi Romero (CEO)
Pau Ramon (CTO)
Bernat Farrero (President)
Volum of investment taken in:
Main goals achieved:
One of our major achievements has been to build a team of 20 people who are able to compete with large multinationals, allowing us to gather over 12,000 companies who rely on Factorial in one year.
We have also revolutionized the human resources industry by offering the first solution on the market that integrates human resources software, payroll generation and social benefit management on a single platform.
Main challenges in the future
Upscaling the team at the pace of company growth without losing speed in implementation of new services and getting new products to market. Internationalization of the company’s services is also a challenge as this is closely linked to regulations in each territory where Factorial is present.
Why did you choose to establish the company in Barcelona?
Barcelona is the best city in Europe to start a technological business. The city has a large number of talented professionals, a very good reputation attracting talent from the rest of the world and a growing investor ecosystem that helps finance new projects. The fact that the founding team had already successfully built great, very talented outfits in Barcelona in the past confirms the decision.
Location: Carrer d’Àlaba 61 , 3, Barcelona
Inspiration? A model, company or business person/entrepreneur?
Amazon and Netflix , for their ability to see into the future and maintain their vision intact while the rest of the industry is disrupted, becoming their main competitor.
Zendesk and Salesforce , for their ability to create global, extremely valuable businesses in the Software As A Service paradigm, ejecting the established competitors out of the market.
What websites do you use to keep informed?
Twitter, HackerNews, SaaStr, newsletters (novobrief, itnig, benedict evans).
What apps you use most on your mobile?
What else would you like Barcelona to offer?
Greater facilities for investment, hiring and innovation. More international promotion to attract talent and funding.