Settly, an Amsterdam-based HRTech startup for employee relocation has recently announced that it has raised $6.5 million (€6 million) in a seed funding co-led by French evergreen impact fund “2050” and Mediahuis Ventures, the Belgian venture capital fund of international publisher Mediahuis. With the funds, the startup intends to expand its product offering, cement its position in key markets, and further grow its operations across global markets.
Co-founded by Marieke van Iperen and Kimo Paula, Settly supports international employees during their transition to a new country and unburdens the employer. The startup aims to create a world where everyone can feel at home and provides end-to-end support and an optimal experience for employees and their partners. It operates in the Netherlands, Germany, the UK, Spain, Portugal, the Czech Republic, and Australia. The company employs 55 people from 33 nationalities, mostly women at all organisational levels, and LGTBQIA+ is well represented.
Speaking about the company, Co-founder & CEO of Settly, Marieke van Iperen, said:
The number of people living and working outside their birth country is expected to grow by 70 million in the next years. Our mission is to transform the future of work, where it no longer matters where you come from but where you feel at home. Settly wants to change how companies look at international talent, recruiting, culture and community. We do this by not only offering support in immigration, tax and soft landing but also by focusing on how people feel in their new country through a multi-local approach.
We help them connect with the local community by offering various events, recommendations, and tailored information and support based on their situation. We have done this bootstrapped so far, so without financial backing. To grow our impact, we have found two investors who fully support our mission and strategy and align with our core values.
Settly was named one of the ‘top 5 global bootstrapped startups to watch’ by Dealroom last year, almost quadrupled in revenue and team size in 2022, and is on track to achieve impressive growth numbers in 2023. The firm has a local set-up in each country to support its clients. In doing so, it combines a hyperpersonal and multi-local approach to improve the employee experience. The company claims it grew 350 per cent last year while maintaining a client satisfaction score of 9.2/10.
Marie Ekeland, Founder of 2050, commented:
It is our mission to change how the VC model works and help grow businesses that have a meaningful impact on people, society and the planet. Settly’s 3% churn rate and a Client Satisfaction score of 9.2 shows a strong need for a personalized approach in a market worth $58 billion among larger multinationals alone. The startup’s core values align seamlessly with our investment policy.