Our Investment in Jobtogo

When we met Güneş and Begüm, co-founders of Jobtogo, a few years ago we felt that the young founders had what it takes to run a successful startup. Having met in college at Bocconi University and graduated just a few years ago, they combined youthful energy with a tremendous desire to succeed. They were the kind of founders who wouldn’t try to solve problems without first validating the market. They knew the problem, understood why it needed to be solved now, and believed they were the best to solve it. In early-stage venture capital, the team is everything, and Güneş and Begüm had the right set of qualities.

At that time, however, the business was still in its early stages. Thus, we decided to keep track of the company over the coming years. Today, we are excited to announce our investment in Jobtogo. We’ve never needed a platform like Jobtogo more. First, with the COVID pandemic and then with Gen Z joining the workforce, alternative work models have become more pronounced than ever. The pandemic made remote work the new normal – a trend that has persisted even in its aftermath. Entering the workforce at this pivotal time, Gen Z, the most educated and diverse generation to date, has set its sights on building careers around the lifestyle they desire, rather than conforming to traditional models. Flexibility and ownership are core values for Gen Z, making freelance work a great fit for their ambitions. 

"Trust" is the word that best captures the value Jobtogo brings to both freelancers and the companies using its platform. Freelancers can rest assured that they will get paid, while companies can select from a diverse pool of professionals to find the best match for their needs. Of course, technology is at the core of whatever the company does. The platform leverages AI not only to create better matches between companies and freelancers but also to help companies conduct thorough needs assessments. In addition, Jobtogo streamlines invoicing, contracts, payments, insurance, and tax collection, and even supports first-time freelancers with company formation. It is no exaggeration to say that Jobtogo's future is evolving to position somewhere between hrtech and fintech. 

While geographies like the United States are accustomed to freelance work, Europe and the Middle East have been slower to adopt this model. Due to specific tax laws and labor regulations in these regions, there is a need for local solutions. Leveraging their international experience, Güneş and Begüm quickly recognized this gap, prompting Jobtogo from day one to forge strategic partnerships in these regions. We believe that this approach will accelerate the company's international expansion by leveraging the investment to capture a larger market share.

For the young Turkish workforce, Jobtogo offers a unique opportunity to connect with international companies and secure an additional source of income. Meanwhile, companies can access high-value talent that would otherwise remain out of reach. With over 12,000 freelancers on its platform, Jobtogo is well-positioned to lead the freelancer economy in the region. We are excited to partner with the company in their ambitious expansion journey.