The Nordic venture capital fund Inventure invested 11.6 million euros in the Estonian startup Jobbatical in 2022. Before the transaction, Inventure brought in specialists from Grant Thornton Baltic to analyse Jobbatical's financial and tax data and get an overview of the company's situation. Our task was to perform a pre-investment financial and tax due diligence on Jobbatical.
Jobbatical provides employee relocation and immigration services for fast-growing companies and aims to make moving from one country to another paperless. Glen Madis, Chief Financial Officer of Jobbatical, confirms: "It is important for us to improve the technology to increase the level of automation of the services we offer and thereby make the recruitment of employees smoother and faster for companies."
To expand globally and enter the next phase of growth, Jobbatical started raising funds in 2022. After conducting due diligence, both Inventure and co-investors, including Union Square Ventures, Swiss Post Ventures, Karma Ventures, Metaplanet, etc., invested in Jobbatical. The total investment was 11.6 million euros.
Eve Lille, Erik Suits, Kristjan Järve, Jaana Sild, Nadežda Mihhailitšenko, Artur Suits
Efficient and well-planned work
Grant Thornton Baltic performed for Jobbatical red flag FDD and TDD as part of the capital raising process. It was a pleasure to work with the practical specialists of Grant Thornton Baltic. Their approach in the due diligence process was professional, thought out and clearly communicated helping us reach the result smoothly and efficiently.
CFO of Jobbatical