Fasanara Capital, in partnership with Barclays, has approved a €250 million (US$270.36 million) working capital facility to Job&Talent to support its growth as a digital marketplace for essential work.

Structured as a trade receivables securitization, the facility is aimed at enabling the jobs platform to streamline multiple existing facilities into a single efficient global working capital financing line.

Trade receivables securitization is a financial vehicle that allows businesses to leverage the time gap between paying workers’ salaries and collecting payment from clients.

By having a strong working capital facility in place, Madrid-based Job&Talent can achieve sustainable growth as the company continues to enhance its service and product offerings, Fasanara says. The new financing facility has an initial term of three years, with two optional extensions.

London-based Fasanara Capital is an alternative credit specialist focusing on fintech and technology-driven investments. It manages over US$4 billion in fintech strategies for pension funds, insurance companies, and other institutional investors globally.

“This deal not only enables Job&Talent to scale more efficiently, but also reinforces Fasanara's commitment to providing innovative financial solutions to empower businesses that power the real economy,” says Patrizia Lando, head of capital markets at Fasanara.

Juan Urdiales, co-founder and co-CEO of Job&Talent, adds: “With the new facility, we are able to achieve further business growth and scale our operations efficiently.”

PJT Partners acted as financial adviser in the transaction, with Linklaters, Mayer Brown and Hogan Lovells as legal advisers.