South Africa’s Britecap, a blue collar jobs marketplace won the SAP Startup Focus Forum competition last week Thursday beating five other companies that participated at the event organised by Barclays Rise Cape Town and SAP.
Britecap took home a Macbook Pro as well as 3 months free incubation space at Barclays Rise Cape Town, a move that will allow the company to connect with like-minded entrepreneurs, potential partners and mentors on a daily basis.
Speaking to TechMoran about the win, co-founder and CEO Jacomien Van der Merwe said, ”It is very valuable and encouraging to not only validate our company and the services we offer with our clients, but also in the public eye in front of industry experts.”
Britecap is a platform allowing low and medium skilled labour to be more discoverable by potential employers with the aim of integrating financial products and services e.g saving, micro-insurance and micro-loans which ultimately helps build financial resilience for low income communities in Africa.
Who is the other co-founder and when did you start?
We started Britecap in June 2015. I am the CEO focusing on business development, finances and sales while Jonathan Van der Merwe is the technical co-founder.
What inspired you to focus on the low and mid-skilled market than any other segment?
We both have extensive experience working with BOP individuals, continuously seeking to understand the economics and needs within emerging markets. We are extremely passionate about the development of software that accelerates human achievement.
About a year ago, we realised that the barriers to enter the labour market for lower skilled individuals are extensive and that it was very hard for them to be discovered for new or better job opportunities.
How does the platform work?
• Job seekers create a professional online profile on Britecap showcasing their unique skills, making them more attractive and discoverable for the right employment opportunity.
• Employers can visit the Britecap platform and instantly screen through standardised, pre-vetted profiles. As soon as the employer has found an individual to employ, Britecap sends the candidate’s verified information automatically to the employer making them instantly labour compliant and ready to successfully run payroll.
• Britecap also aims to provide employers the option of adding Employer benefits such as life and funeral cover when on-boarding a new employee.
What is your revenue model?
Britecap’s revenue model is currently based on the on-boarding fee charged to the employer. For job seekers, it is free to register (and will always stay for free) and employers can also search for candidates for free.
We charge a placement fee and is an open platform which differentiates us from other online portals. When job seekers register on the Britecap platform, they receive a “Britecap magic link”. This is a URL to their online Britecap profile (works the same as LinkedIn).
They can email, SMS or send this link to any potential employer and that employer can view their full profile and contact them directly. This significantly reduces the cost for job seekers to print paper CVs or the need to have access to internet. It also significantly increases the quality of job responses to the employer.
Who is your competition and how different are you from them?
Our competitors are existing labour brokers, recruitment agents and online recruitment portals. We differentiate ourselves through our automated on-boarding features and integrated employer benefits platform
Any plans to expand to other markets?
Our main focus currently is within South Africa. However, in the longer term Britecap can scale easily to other emerging markets. We are bootstrapped to date but are currently fundraising to accelerate the growth of the business.
However, we like to keep it lean and focus on getting as many sales and individuals employed.