Playter Pay, a London, UK-based ‘Hire Now, Pay Later’ startup, raised £1m in both debt and equity funding. The round was led by a consortium of unnamed investors. The investment, comprising both debt and equity will allow Playter Pay to help SMEs borrow and spread the cost of their recruitment invoices over 6 months, whilst paying the recruitment agency within 24 hours of invoice.
Playter Pay is led by Founder Jamie Beaumont, who said: “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.” He continued: “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.”
The company intends to use the funds to continue to expand operations and its marketing and development efforts.