Portuguese startup merytu has secured €1.5 million aimed at expanding its digital hiring platform internationally and beyond the hospitality sector.
The financing involves Banco Português de Fomento (BPF), through its Deal-by-Deal Co-investment Programme under the Recovery and Resilience Plan (RRP), and Hotusa Ventures, the corporate capital fund of Grupo Hotusa, according to a company statement cited by ECO.
Based in Lisbon and founded in 2019, merytu runs a digital platform designed to connect hospitality workers with hotels and restaurant businesses.
The company positions itself around enabling more flexible work arrangements in the sector and has developed a network of over 105,000 users and about 1,500 client companies. The capital will support the company’s expansion strategy and product development efforts.
Spain and Belgium are among the first international markets targeted by the startup. merytu also plans to develop new features for its platform to enable entry into additional sectors.
“This is the result of a process that aimed to provide merytu, from the first moment, with the necessary conditions to make an inevitable technological and organizational leap,” co-founder and CEO João Silva Santos was quoted as saying in reference to the funding.
He added that the backing from BPF and Hotusa Ventures will allow the company to scale into new business areas, starting with retail.
BPF executive director and chief investment officer Teresa Fiúza said the investment reflects the institution’s commitment to supporting innovation in the business sector.
She described merytu as “a differentiating idea in the tourism sector,” highlighting its potential to scale and expand into new markets as part of its international growth strategy.
Featured image: João Silva Santos, co-founder and CEO of merytu (Photo courtesy of João Silva Santos/LinkedIn)
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