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5th April, 2019

Recruitment agency receives €4mn in funding

Recruitment agency Talentuno is the recipient of a €4 million investment by state-owned venture capital fund manager Hiventures and investment fund manager Bonitás to finance its expansion, it was announced on Thursday.

Such a large investment in a Hungarian start-up was last seen with Ustream, Prezi and LogMeIn, Napi observes.

Talentuno’s new online recruitment app launched last September allows employers to crowdsource recruitment to individuals.

The app allows users to refer people they know to open positions and receive a commission for a successful referral.

Some 6,000 users have registered so far and 100 companies have signed up, said Péter Balázsik, co-founder and CEO of Global Web Solutions, the operator of Talentuno.

The success of Talentuno lies in finding a market niche in the human resources industry, as traditional recruitment firms do not mobilise the network of candidates, he observed.

Co-founder Zsolt Kelliár said the company will use the proceeds to increase the number of companies using the platform to 600 and registered jobhunters to 20,000.

The company will also use the money to fund an expansion into foreign markets. The Talentuno service debuts in Poland next week.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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