Fintech PR
Zinc secures a £5 million series A to revolutionise background checks
LONDON, July 4, 2023 /PRNewswire/ — In a round led by AVP (AXA Venture Partners) with participation from existing investor Seedcamp. Zinc, a leading provider of automated global background checks, is transforming the digital work identity landscape with an innovative approach to background screening.
This funding will help Zinc expand its global presence and accelerate product innovation. Zinc’s latest feature, a global right-to-work check, leverages automation technology, enabling companies to refine their talent acquisition strategies ensuring conformity with global employment regulations. Since Zinc support’s many routes to proving right to work, this check enhances recruitment capabilities and promotes diversity across workplaces worldwide.
Zinc delivers exceptional candidate and employer experiences with fast, reliable checks completed in days, not weeks. Through its modern, tech-enabled product, Zinc streamlines the verification process, enhancing efficiency. Zinc supports 12+ checks in over 190 countries. Its mobile-optimized solution seamlessly integrates with Applicant Tracking Systems (ATS) and Human Resources Information Systems (HRIS), ensuring a secure flow of data, without the need for manual checks or PDF downloads.
“We’re delighted to be partnering with AVP. We work heavily in the finance sector and we’re proud to partner with a household financial services brand. AVP is a perfect partner for us to grow within other regulated domains and geographies with AVP’s global reach.” Luke Shipley, Co-founder, Zinc.
Zinc’s value proposition has gained the attention of industry leaders, with its platform being used by hundreds of employers, including: Octopus Energy, Bolt, Improbable, HelloFresh, Marshmallow, and many more.
“Today, the global background check market is huge and will continue to grow at a +10% CAGR over the next 5 years. It started in the US and so far, in Europe, it has been driven mostly by the UK. We think the Continental Europe market is still largely untapped and that background checking will also become the norm in recruitment processes all over Europe. Zinc is perfectly positioned to take a leading position in this market, by focusing on the most regulated industries but also by using technology as a key differentiator, in a market largely occupied by low-tech incumbents. Zinc has developed unique product features to offer the best-in-class user experience and the shortest time to check to both candidates and recruiters. We are very happy and proud to support the team in their next stage of growth. Charlotte and Luke and their team have done an amazing job so far, but this is just the beginning…” says François Robinet, Managing Partner at AVP.
Customer experience is at the heart of everything Zinc does. Their focus on user experience is reflected in their outstanding user experience, with over 120+ G2 reviews, and a 4.8 out of 5 internal candidate feedback score. Their custom-branded solution wins customers’ genuine appreciation by addressing challenges in Right-to-work, Employment, ID, Financial and Criminal record checks amongst others.
Zinc is making strides in an otherwise archaic sector, and its industry impact is poised to be transformational. Zinc paves the way for reusable work identity data with a pioneering formula that sets efficiency and sustainability benchmarks.
About Zinc
Founded in 2017, based in London, UK, Zinc is led by an experienced team well-versed in, talent, recruitment and HR tech. Initially a referencing-only company, Zinc identified industry inefficiencies, prejudices, and transparency issues. Today the team of 41 have a shared mission: to change how people prove their work identity, globally.
About AVP
AVP (AXA Venture Partners) is a global venture capital firm investing in high-growth, technology-enabled companies, with €1.3bn of assets under management through three pillars of investment expertise: early stage, growth stage, and fund of funds. Since its launch in 2016, AVP deployed capital across 60 technology companies in Venture and Growth stages in the US and in Europe. The launch of this new product confirms AVP’s ambition and commitment to support the best tech companies throughout their journey.
With offices in New York, London and Paris, AVP helps companies scale internationally and offers portfolio companies unique business development opportunities to further accelerate their growth. AVP is part of AXA IM– Alts, the alternative investment business unit of AXA IM.
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