Co-founders of Factorial Pau Ramon Revilla (CTO) and Jordi Romero (CEO).

There’s a new startup in town, and we’re lucky to say it’s an itnig company.

Factorial wants to make the HR role both easier and less time consuming through their cloud-based HR platform.

Factorial has already started on-boarding several Barcelona companies to their platform.

Many small and medium businesses don’t have a budget for a full-time HR person, so managing employees, their contracts, pay slips, time off, benefits, insurance and much more, is left to the CEO, the office manager or someone else.

All of these tasks, and more, are automated through Factorial, explains CTO and co-founder Pau Ramon Revilla.

Our customer interviews shows that HR managers use 80 percent of their time on cumbersome chores, and only 20 percent on building culture and boosting productivity. We want to flip those numbers.

Bringing the Zenefits model to Europe (and the world..)

Even though there’s several HR management platforms in Europe, they are not designed for the needs of small and medium businesses (payroll, benefits, time-management, etc.) that Factorial offers, says CEO and co-founder Jordi Romero:

The initial seed idea was to bring the Zenefits model to Europe.

Zenefits was born from newly introduced regulations that forced American companies to provide certain benefits for their employees, but European markets work very differently, and this is where Factorial comes in. They’re currently exploring what to offer in the different markets, and they’ll start in a few European countries, according to CEO Romero.

Usually all companies reinvent their own way of dealing with HR processes, using forms and excel sheets, which is very time consuming. We’ll change that.

Moving fast

Only three months ago Jordi and Pau didn’t have a product, but they’ve been building non-stop and have recently started on-boarding companies into their platform, according to CTO Ramon:

We’re testing what’s basically our MVP with 5–6 companies in Barcelona now, and so far the feedback has been good.

They’re currently raising their first round of funding, and will be using the next 6 months to build an international product, and then establish partnerships for benefits around Europe.

“The initial seed idea was to bring the Zenefits model to Europe” — Jordi Romero

Both Romero and Ramon are coming from executive positions in SaaS company Redbooth, where they worked as VP of business development and CTO.

We’re bringing a lot of valuable knowledge and experience from Redbooth on how to run a SaaS company, the metrics, how to convert users in to actual customers, and much more.

Targeting startups

Factorial is meant for all small and medium businesses, but the first months their targeting startups, says CEO and co-founder Romero.

The co-founders in talks with the itnig design and business development team.

Tech startups usually have higher salaries, and are more creative in ways to compensate their employees. At the same time, they’re often very depending on efficiency and productivity, so it’s a very good fit for Factorial.

Factorial is one of six companies currently being built in itnig’s venture builder in Poble Nou, and all the other startups in the ecosystem are using Factorial.

Now the race to build a great team has begun, says Ramon:

We’re looking for great developers to help us build Factorial. As the CTO of Redbooth I’ve learned a lot about how to grow a team, create a good culture and to foster productivity and creativity. I’m looking forward to applying this knowledge in Factorial.


This post was written by Sindre Hopland, media manager at itnig.


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A.

ALTERNATIVE PLANS FOR THE MWC WEEK AT ITNIG

The Mobile World Capital and 4YFN have been cancelled! Not only it’s a shame that such a great and needed week won’t be happening, but also it’s a problem for all the people that were counting on it, bought their flights, booked hotels and had everything set to enjoy and make the most out of it. 

Because of this, Itnig is organizing a series of alternative events, workshops and activities that same week. We think networking is the main reason to gather all the entrepreneurs and startup community under our roof. 

Here are the events and activities happening at Itnig’s MWC Alternative Week:

Startup Networking Breakfast – February 25 10:00-11:30

Enjoy breakfast and coffee in a networking environment full of interesting people.  Come and join us at our Coffice space for  some pastries, coffee, juice, fruits & more.  The ticket includes the  networking breakfast + coworking space for the day. Buy your ticket here

Boosting your code quality with clang tools with Carlos Jimenez Rams – February 25 19:00 – 21:00

This talk will cover some of the different clang tools and how these tools could help you and your team to improve the code quality.  Come to Itnig Coffice to learn more about this topic while also getting to know new people. This event will be free. 

Pitch to Investors SPECIAL EDITION – February 27 18:00 – 21:00

We’re hosting a SPECIAL EDITION for our weekly PITCH TO INVESTORS. This is a pitch session for entrepreneurs to explain their businesses to investors like Bernat Farrero (CEO @ Itnig), Jordi Romero (CEO @ Factorial), Albert Domingo (CEO @ Nextret) or Juan Rodríguez (CEO @ Camaloon). 

You can either attend as a regular attendee or pitch your idea to us! You’ll need to have your ticket in hand, you can buy it here

Networking Mexican Night – MWC alternative party –  February 27, 18:30 – 23:00

Parallel to our Pitch to Investors, we’ll have a Mexican themed networking afterwork. Come to our venue to meet other entrepreneurs and networking with micheladas, nachos & guacamole! Get your ticket here

Afterwork Beers & Networking February 28, 18:30 – 21:30

To end the week properly, we’re making our regular afterwork public! It’s always time for networking, so let’s enjoy a beer, or tow, together at Itnig Coffice. The ticket includes a drink

ATTENTION: Any day of that same week you can come to work in our coworking space from 15€/day. 

So, no time for corona virus fear, let’s enjoy a week full of interesting activities and meet new people to help the community grow! 

Stay tuned for more updates and information, if you’re interested in organizing an event, or if you’re a speaker and don’t have a venue yet, let us know! We’re happy to be able to host and help the community.