Timee announced on September 15 that it has raised 1.34 billion JPY (approx. 12.68 million USD) worth of funds.
Timee is a side job app provided by Timee. Timee is a service that matches the worker's availability with the desired timeslots of companies looking for part-time help. Workers can begin work without having to apply or go through an interview by selecting the project they want to work in. They will also receive their compensation immediately after finishing their work. Companies can simply register the timeslots they want workers in and their desired skills, and the service will automatically match eligible workers.
This financing round was done through a loan from a financial institution as well as a third-party allotment of capital to Prologis, the Higin Venture Investment Limited Liability Union, Higin Capital, Kintetsu Venture Partners, Mixi, Global Bridge Holdings, Colopl Next 3rd Fund Investment Business Association, and other individual investors.
There has been an urgent demand for new jobs due to the increasing number of job seekers whose source of income was cut off due to the COVID-19 pandemic. Labor shortages are also getting more critical in some industries, such as the logistics industry. Timee emphasizes the importance of supporting companies seeking human resources and job seekers looking for a place to work at. The funds raised this round will be mainly used for operating expenses for the relevant companies, marketing expenses for acquiring new users, expansion of product features, and recruitment.