Mumbai-based, cross border hiring platform, CBREX has raised around $200,000 in an angel round from Prahlad Rao, Sundara Rajan and Vikram Chachra by diluting 10% of equity. As a part of the deal, the investors would be joining the board of the company.
Gautam Sinha, Co-founder CBREX said that the raised capital shall be used to hire the core team and develop its technology.
Launched in May 2015, Expat Naukri Pvt Ltd was started by Sinha, Sanjeev Punwani and Karunjay Anand under the brand name CBREX. The company helps small business owners to communicate and transact with each-other in different part of the world.
The company has a team of around 10 people presently, including six in India and rest who are part-time employees, from China, US and Middle-East.
Currently, present in 53 countries, CBREX claims to have more than 250 verified members and is getting around three to four sign-ups every day from recruiting firms across the world. In the next three months, it aims to increase sign ups to 10-15 a day and cross 1000 verified members on the platform.
Talking about the expansion plans, Sinha added, “we will raise a proper or pre Series A in the next six months which will help us open an office in US and one of our co-founders will move there to run it. We will also expand our tech team in Bangalore and hire two to three full time employees outside India based in certain key geographies which fall in the high transaction global demand-supply corridor.”