An Indian job portal “Apna” has secured $70 million in a recent fundraising round. The company was backed by Insight Partners and Tiger Global. After raising such a huge amount in a fundraising round Apna has grown to become one of India’s most valuable startups in just 16 months. The investment will be used to improve the company’s presence in existing cities as well as expand its operations globally.
This will help to boost India’s economy since the more people get jobs, the more people will contribute to the country’s economic growth. Covid harmed the country’s economy since several firms have closed and many people have lost their employment as a result of the awful scenario. However, thanks to the Apna app several jobless persons can find work from home jobs and earn their livelihood. Last month, Apna conducted 15 million job interviews on their platform.
Along with providing jobs, it also allows users to assist one another in starting a business. Apna has several different types of groups where the job providers and job seekers can post their job-related queries. The funds will be used to hire hardworking employees and expand the company’s job portal service throughout Southeast Asia and the United States in the coming years. Several big Companies post their job requirements in Apna, with 10 million users, the app provides candidates with job opportunities from Uber, Zomato, Delhivery, and Swiggy.
This job portal employs 100,000 people. People can easily get the jobs in their area just by giving a simple walk-in interview, in other words this app simplified the job recruitment process. “We hope that our funding will assist Apna to scale up their operations, and provide more job opportunities to the people,” stated Nikhil Sachdev, MD of Insight Partners, in a recent interview. Along with Insight Partners, Griffin Schroeder, an investor or partner at Tiger Global, also expressed his excitement to accompany the Apna app team, saying in a recent interview, “Apna’s concentration on digitalizing the procedure of job exploration, fill the application, and applicant interaction can change the recruitment process.”