BetterPlace acquires OLX People, Waah Jobs

BetterPlace on Wednesday said it has acquired OLX People and Waah Jobs to strengthen its portfolio of workforce management solutions and become one of the largest providers of solutions in the blue- and grey-collar gig staffing ecosystem.

WATCH | Click on Zee Business Live TV Streaming Below:

The company, however, did not disclose the deal size of these acquisitions.

"On a mission to support the 400 million-plus blue- and grey-collar workforce in India to find their way back to employment after a tough pandemic period, BetterPlace can now offer employers a full range of technology-enabled solutions," according to a statement.

This is the second acquisition announcement from BetterPlace this month after they acquired Oust Labs, a mobile-first micro-learning platform tailor-made for upskilling and training distributed workforces.

After the acquisition, the new joint entity will use proprietary technology that will empower organisations to manage the complete lifecycle of their blue-collar workforce from a single platform that includes hiring of new employees, temporary workforce expansion, and managing large worker set-ups across its clients, it added.

Blue- and grey-collar users on the integrated platform will be able to receive a spectrum of services that include salary credit updates, benefits summary, access to financial services, medical advice and can also upskill themselves through various vernacular training modules, it added.

"The blue-collar ecosystem is undergoing massive digital transformation, and the ongoing pandemic has accelerated this adoption.

"We are onboarding more than two lakh people digitally every month and aim to serve 2,000 enterprises and over three million workforces by the end of this financial year," Pravin Agarwala, co-founder and CEO of BetterPlace, said.

He added that by joining forces with OLX People, the company will strengthen its portfolio of end-to-end workforce management services and build an employment exchange that can offer employers truly digital and flexible staffing solutions.

"The blue-collar workforce mission is one of the most important challenges India faces. I am extremely proud that the 400-plus OLX People and Waah Jobs team now joins a broader family of believers in technology as the key to improve the daily lives of millions of workers across India," Tarun Sinha, CEO of OLX People and Waah Jobs, said.

He added that the companies will continue to improve the service for more than 2,000 enterprises and help them hire and manage their workforce.

Recently, BetterPlace raised USD 24 million in Series-C funding led by multiple investors like CX Partners, Jungle Ventures, CDC Group, Capria Ventures, and 3One4 Capital, among others.

OLX was advised in the transaction by Deloitte as the investment banking advisor.