Germany-based HRTech startup Propel announced on 10 July that it secured €2.5 million ($2.7 million U.S.) in seed investment in its latest round of funding.
Founded in 2020 by CEO Sunkanmi Ola (LinkedIn profile), Seun Owolabi and Abel Agoi, the Berlin-headquartered company, which also has offices in Lisbon and Lagos, focuses on connecting tech talent from emerging markets —particularly in Africa— to global companies. It said it would use the funding to expand its platform and launch new tools.
“By giving communities access to a plug-in platform that solves their last mile, Propel helps them focus on what they know how to do best. And with communities being able to grow and connect deeper on a local level, Propel is looking to tangibly impact the growth of millions of people on a scale that has not been seen before,” said founder and CEO Sunkanmi Ola, Silicon Canals reported.
The round was led by Amsterdam-based No Such Ventures. It also included the participation of Apx (backed by Axel Springer and Porsche), Golden Egg Check and the Future of Learning Fund.
Propel provides tools that tech talent communities can use to assist their members, such as connecting them to employment opportunities and financial services.
Currently, the company collaborates with over 100 tech communities in 15 different countries, serving almost 400,000 members. To date, it has worked with such clients as Porsche, Mercedes, Orange, Farfetch and Stepstone, as well as a number of European startups.
To date, Propel has raised a total of €3.0 million and has been backed by the Google for Startups Black Founders Fund.
“We are grateful to the remarkable team members, communities, clients and talented individuals whose participation, commitment and support have been instrumental in our path to this milestone,” the company said in a LinkedIn post.