Propel raises $2.75 million in funding to revolutionize the tech talent economy

The funding will accelerate Propel’s mission of empowering tech communities in emerging markets, providing them access to employment opportunities, embedded finance, and benefits.

Propel raises $2.75 million in funding to revolutionize the tech talent economy
Propel's Co-Founders, Seun Owolabi, Sunkanmi Ola and Abel Agoi

Propel, an African-founded Startup headquartered in Berlin, is delighted to announce the successful completion of its seed funding round, which raised $2.75 million.

This round was spearheaded by the well-regarded Dutch venture capital firm No Such Ventures and was further bolstered by contributions from APX (a joint venture of Axel Springer & Porsche), Golden Egg Check, and the Future of Learning Fund.

Founded in 2020 with a vision to solve the last-mile problems of tech talent communities, Propel offers an all-in-one platform that communities such as developer groups, talent incubators, training schools and others can leverage for their members’ growth.

These communities can aid the growth of their members by connecting them with suitable jobs, financial services like loans, and other benefits. These communities can also generate revenues through collaboration with Propel, and these revenues can then be reinvested into initiatives and programs that attract more individuals to the tech industry.

Presently, Propel collaborates with over 100 tech communities across 21 countries, serving over half a million members. These communities include Ingressive for Good, SheCodeAfrica, Niyo Network, Datafest, Angular Kenya, People In Product, Friends of Figma, Google Developer Groups, and many more.

Comprising software developers, data professionals, product designers, and digital professionals who share common career aspirations, these tech communities are instrumental in providing training, mentorship, upskilling, and promoting inclusivity within the tech industry.

This significant investment will accelerate Propel’s mission of empowering tech communities in emerging markets, providing them access to employment opportunities, embedded finance, and benefits.

What they are saying

Speaking on the rationale behind this community-powered business model, Sunkanmi Ola, Co-founder and CEO of Propel shared, “Tech communities in high-growth markets like Africa have emerged to bridge education, capacity building, and inclusion gaps. They nurture talent, organize events, and respond swiftly to global trends. However, they face challenges in solving last mile problems and achieving financial sustainability while making a meaningful impact. Propel provides a simplified platform that empowers communities to address these challenges and drive the growth of millions of individuals. Our vision is an empowered Africa that can solve the world’s tech problems, and we believe we’re on the right course to achieve that.”

Speaking about the raise, Sophie Heijenberg, investor at No Such Ventures, said, “Propel's unique, community-focused approach to driving the open talent economy sets them apart and is a solid addition to the Future of Work category. We’re bullish about their roadmap and super-excited to partner with them on this growth journey.”

With Propel’s first-of-its-kind Community-as-a-Service platform, Propel aims to deliver and capture value at key stages in the career journey of millions of tech talents globally through communities. This approach sets Propel apart from talent-matching platforms, providing a comprehensive solution beyond traditional talent placement.

Propel's team

Additionally, Propel harnesses the power of technology advancements to make smart matching decisions for companies globally. Its platform uses a sophisticated data profiling model that progressively gathers data on each individual within the ecosystem, including work preferences, psychometric data, and earning potential. This data-driven approach ensures a tailored experience for tech professionals across various communities and partner companies.

With €2.5 million in funding, Propel is poised to expand its platform capabilities, grow its user base, and solidify its position as a leader in the tech talent ecosystem. By transforming how tech professionals find work opportunities, access financial services, and enjoy lifestyle benefits, Propel is on a mission to empower millions and unlock new opportunities for collaboration and innovation.

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