The startup Factorial opens an office in Mexico and quadruple its workforce, which already exceeds 200 employees
Human resources startup Factorial lands in Mexico with the opening of its new office, the first in Latin America after raising a € 15 million round in a Series A in 2020, the biggest round of the year in Spain, and the third in its history since the start of its activities at the end of 2016. During this last year, the technology company has continued to grow, increasing its workforce by 420% and reaching many more customers who, in the face of the crisis, had to digitize their activities. “When the crisis erupted and forced teleworking became a reality in companies, they had to adapt so as not to disappear. We are also adapting our product to respond to their new issues and support them in the digitization process, ”says Jordi Romero, CEO and co-founder of Factorial.
And it is that Factorial, which offers specialized services to solve the management of human resources of SMEs and guide them in making decisions for the company, already has a commercial presence in France, the United States, Italy, in Portugal, Brazil, United Kingdom. , Germany and other places in Latin America. In the latter, especially in Mexico, the company saw such an opportunity that it decided to open a new branch. So much so that, despite challenges facing the global situation we are experiencing at the international level, it has not ceased to be the largest hub of SMEs in the world.
New office with 11 employees and plans to increase staff to 30 by the end of the year
New hires began arriving in April, forming a workforce that currently numbers 11, although Factorial plans to continue growing to over 30 employees by the end of this year.
“Companies are born, close, merge or acquire, but they are always looking to grow and reach new markets. But growth won’t just depend on your product or your solutions. It will depend fundamentally on its people, its collaborators. Companies in strategic growth will be able to detect that human capital is the door to generate better income, improve efficiency and, above all, minimize risk in an organization. Factorial can help in this way and that the materiality of all of its human management strategies is measurable, quantifiable and clear, ”adds Rodrigo Manjarrez, regional sales manager for the new Mexico office.
Challenges and challenges for SMEs in Mexico and Latin America
The entry into the Mexican market responds to a clear objective of the company, which is to solve the challenges and challenges presented by companies in Mexico and Latin America. And the fact is that the dynamic of companies in Mexico and Latin America to want to grow, survive and coexist in such a competitive world has generated gaps that have affected the ability to better manage human capital, the most important value of the world. ‘business. “Our goal is to help break paradigms and generate more sales for our customers. We are looking to reach and help over 500 companies in 2021 to digitize, automate their processes and focus on people, the most important thing for an organization, ”they add from technology.
According to data from some consulting firms and collected by Factorial, 75% of Mexican companies are SMEs. Thus, at Factorial, they consider that a large number of them are going through a stage of digital transformation, evolution and growth. This growth can be orderly and strategic and does not have to be costly, but useful and efficient, and therefore, they want to help and solve their clients’ problems.
With the opening of its new office in Mexico, Factorial shows that one of its goals is to help Mexican SMEs and startups grow and develop on the basis of human value. And, according to figures from the economic census of INEGI, there are 3.9 million micro, small and medium establishments. While the number of Fintech startups has increased by 14% over the past year, reaching 441 startups.
Business growth through their human value is made possible by automating human resource tasks and generating information about organizations that helps them make better decisions. “While the pandemic has brought crisis and uncertainty, it has also accelerated digital transformation and has shown that technology is not the end but the means to achieve goals. We see a great opportunity to help companies, in particular SMEs, and we want to provide this help and offer support for a digital transformation on the more human side ”, they assure.
Currently, the company that is revolutionizing human resources management by providing a comprehensive tool that helps organizations manage 360 areas, is already starting to be operational in new sectors such as catering, industry and construction. Thanks to its expansion policy which has enabled it to develop in particular in Spain, France and now in Mexico, Factorial now has 60,000 customers in more than 40 countries.