Passionfruit secures 3.6m seed investment co-led by firstminute Capital and Playfair
The oversubscribed seed round was co-led by firstminute Capital and Playfair to support product expansion and international growth.
Passionfruit operates an artificial intelligence platform that connects organisations with vetted independent professionals for project collaboration. The company currently focuses on marketing talent while offering workflow tooling for modern teams.
Passionfruit has secured 3.6m in a seed investment round co-led by firstminute Capital and Playfair. The financing also attracted participation from FJ Labs, Portfolio Ventures, and several prominent scout networks, alongside angel investors including Mandeep Singh and Xav Collins.
The fresh capital will be directed towards broadening the company product offering and scaling its commercial footprint across Europe and North America. This latest round follows a prior pre-seed investment of 700k closed in December, which was also led by Playfair.
From the founder
"Instead of yet another freelancer platform that simply digitizes transactions that could and would happen without it, Passionfruit is bringing a completely new workforce to the market. Gen Z will represent 27% of the global workforce by 2025 and it has been so inspiring to see our specialists as they say goodbye to the Victorian-age structure of the 9-5, and begin a new life working on their own terms. Better still, companies love working with them this way. Smart businesses are realizing that there’s a more elastic and efficient way to manage their relationship with talent."
Raffi Salama
Co-Founder and CEO at Passionfruit
Investor perspective
"Raffi and Issah have an uncanny ability to appear to be working in the future. Being two steps ahead in your thinking and execution is the hallmark of founders who can not just follow, but lead category-defining shifts in industries. I could not be more convinced by their vision of a freelance-led Gen Z workforce that urgently needs a demand-led digital home to work, learn and earn. I’m delighted to see Playfair tripling down in this round and continuing to build Passionfruit with this team."
Henrik Wetter Sanchez
General Partner, Playfair
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
Passionfruit
Passionfruit connects businesses with vetted independent talent through an intelligent collaboration platform.