Tech talent marketplace MVP Match has raised €5 million ($5 million) in seed funding from Stage 2 Capital to double down on its strategy of connecting companies with talent from around the world.
The Germany-based startup plans to use the funding to build new hubs in Africa and Europe, expand its team and relaunch its proprietary platform to make it easier than ever to find and work with tech talent.
The plan to increase its reach follows the launch of a new hub in Egypt which MVP Match will use to tap talent in Africa – with the aim of creating more networks in the region. Names, which include existing ones in Lisbon (Portugal) and Tbilisi (Georgia), are intended to help its more than 100 clients hire local talent without having to set up operations in those jurisdictions.
“We see entering Egypt as the first step in our exciting journey to bring the entire continent into the global talent pool. By establishing a local presence and working closely with the local talent, we will be able to really open up this market for our customers. And with interesting projects from the world’s leading product companies comes knowledge transfer that the local senior talent seeks, as much as fair labor prices,” MVP Match CEO, Levin Wense told TechCrunch.
Wense, who co-founded the startup in 2020 with Philipp Petrescu, added that MVP Match acts as an employer of record, enabling it to manage the entire recruitment process, including setting up local office space and talent onboarding. This helps recruiters build teams in other regions without worrying about the long recruitment process and paperwork.
“With accessible locations like Egypt, for example, our customers and other global companies can scale their products and engineering teams in coastal regions with the best value for money. We can provide them with complete legal infrastructure to permanently hire local talent without a physical local presence,” said Wense.
“For fast-growing companies operating in crowded markets, being able to launch a nearshore hub with fully equipped office space within weeks and in the process build a more diverse and inclusive team can be the difference between delivering or not on their product roadmaps and strategic goals, he said.
MVP Match said it uses product and technology leaders such as CTOs and experienced domain experts to vet talent before recommending them to companies. Vetting includes technology-related challenges and personality interviews, to ensure their clients, which include Voya Financial and accountancy firm PwC, are matched with the right talent.
On their decision to fund MVP match Stage 2 Capital partner Anubhav Maheshwari said, “Engineering, product and design roles are critical but difficult to fill positions. They are in demand by both growing technology companies as well as non-tech companies undergoing rapid digital transformation.”
“With a dedicated focus on providing an exceptional experience for both clients and external talent, MVP Match quickly connects proven and experienced professionals, wherever they are located, with exciting and impactful projects.”