London-based startup Passionfruit, which provides pre-vetted, high-quality marketing specialists to enhance firms' teams, has secured $9 million in Series A funding. The round was led by Seaya Ventures, with participation from firstminute Capital, Playfair Capital, Cornerstone VC, and Portfolio Ventures.
- Co-founded in 2021 by Raffi Salama and Issah A, Passionfruit offers a platform that elevates a firm's marketing team in under three days by connecting them with pre-vetted, high-quality experts. This platform links businesses with freelancers within 72 hours, significantly reducing hiring stress and time.
- The startup employs a team of 20 full-time freelancers and 5 specialists. Additionally, Passionfruit is trusted by several firms globally, including MARS, Pepsico, Paddle, Miro, Wayfair, Gopuff, Conagra Brands, Mixpanel, and Allica Bank.
- In 2022, Passionfruit raised $4.3 million in a seed funding round to build the future of Gen Z freelancing. The investment was led by firstminute Capital and Playfair, with participation from FJ Labs, Portfolio Ventures, Atomico, Accel, Notion, Stripe, Airbnb, Deliveroo, Turo, Trouva, Workday, SoftBank, and L Catterton.
Details of the deal
- The recent funding was led by Seaya Ventures, a Madrid-based venture capital fund that supports tech startup founders with global ambitions. Managing €650 million in assets, Seaya has built a portfolio of 38 startups and made 93 investments, including Samara, Piper AI, Cafler, and Fracttal.
- Recently, Seaya raised €300 million for its climate tech fund, Seaya Andromeda. The fund aims to make 25 investments by 2027, with initial investments ranging from €7 million to €40 million.
- Existing investors, including UK-based VC firstminute Capital, London-based Playfair Capital, Cornerstone VC, and Portfolio Ventures, also participated in the round.
“Work doesn’t work well for too many people. Businesses often struggle to bring the right expertise to their most important challenges, and freelancers face barriers to accessing meaningful opportunities. This funding allows us to continue building the operating system that empowers independent workers and businesses to collaborate efficiently and productively,” co-founder and chief product officer Issah Abdul Moomin, commented.
- With the capital raised, Passionfruit will continue its product development, expand into North America, and enhance its real-time software for business growth planning, execution, and reporting.
