Based out of London, Playter Pay empowers SMEs to hire the right talent while protecting their cash flows. By offering to split payments on recruitment fees, it helps SMEs hire now and pay later. It lets them pay recruitment firms upfront so they can focus on finding the ideal match for their clients.
Raises £1M funding
In a recent move, the ‘Hire Now, Pay Later’ company, Playter Pay secured £1M funding led by a consortium of investors. The round comprises both equity and debt funding. Playter announced that it will use the funds towards its own recruitment and marketing and focus on enhancing its customers’ user experience.
“Playter brings to market a completely unique product that allows agencies to focus on what they do best – finding the right candidate for their client – and enabling SMEs and the recruiters who serve them to grow and thrive,” founder, Jamie Beaumont said. “Our mission is to empower SMEs, enabling them to obtain the right talent they need to accelerate and scale, whilst also allowing recruiters to focus on what they do best.”
A representative from the investor consortium said, “Playter Pay is a disruptive concept in a historically slow-moving industry. Although the Recruitment space has adopted new technology over the years, there has been little evolution within recruitment finance. We’re delighted to invest in what we think will be a game changer within the recruitment industry.”
What does Playter Pay do?
Playter Pay is one of the fast-growing number of companies looking forward to make scaling a business more accessible and affordable. Founded by Jamie Beaumont in 2018, the company conceived the ‘Hire Now, Pay Later’ model after discovering the pain point for both recruiters and SMEs in the upfront cost associated with recruitment fees.
The ‘Klarna of recruitment’ does this by helping SMEs borrow and spread the cost of their recruitment invoices over 6 months while paying the recruitment agency in 24 hours of raising the invoice.
Already, this service is used by some of the UK’s fastest-growing tech startups. It is touted that the largest of them generates revenues of £20M annually.
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