As remote work becomes increasingly popular, employees are relocating to new countries more frequently than ever before. This has created a need for HRtech startups to provide support for these transitions. Recently, Amsterdam-based HRTech startup Settly announced it has raised $6.5 million (€6 million) in a seed funding round co-led by French evergreen impact fund “2050” and Mediahuis Ventures, the Belgian venture capital fund of international publisher Mediahuis.
Settly was co-founded by Marieke van Iperen and Kimo Paula and their mission is to create a world where everyone can feel at home. The startup provides end-to-end support and an optimal experience for employees and their partners when relocating to a new country. It currently operates in the Netherlands, Germany, the UK, Spain, Portugal, the Czech Republic, and Australia and has 55 employees representing 33 nationalities, mostly women, and LGBTQIA+ is well represented.
The company will use the new funds to expand its product offering, cement its position in key markets, and further grow its operations across global markets. Last year, Settly was named one of the ‘top 5 global bootstrapped startups to watch’ by Dealroom and almost quadrupled in revenue and team size in 2022. It’s on track to achieve impressive growth numbers in 2023 and has a local set-up in each country to support its clients.
The startup focuses on connecting its clients with the local community by offering events, recommendations, and tailored information and support based on each individual’s situation. Marie Ekeland, Founder of 2050, commented, “It is our mission to change how the VC model works and help grow businesses that have a meaningful impact on people, society and the planet. Settly’s 3% churn rate and a Client Satisfaction score of 9.2 shows a strong need for a personalized approach in a market worth $58 billion among larger multinationals alone. The startup’s core values align seamlessly with our investment policy.”
Teachers are often relocated to different countries for their work. Settly’s personalized approach is designed to make the transition to a new country as smooth as possible for employees and their partners. With the new funds, Settly is looking to expand and explore new markets to further help teachers and their families adjust to their new lives abroad.
