Sesame, a Spanish HRTech company, raises EUR50 million to go international with the innovative non-dilutive funding model of BBVA Spark.

Sesame, a Spanish HRTech company, has already risen up to EUR50 million in growth capital under a special financial structure that has been created after collaboration with BBVA Spark and there is a significant leap into the innovation sphere of HR in Europe.

The company was established in 2015 in Valencia under the name Sesame, and its business entails a base of AI-fueled talent and workforce management systems. A new model of HRTech financing, created to serve SaaS companies, permits startups to expand internationally without sacrificing equity, affording them a sustainable mechanism of growth.

The partnership was characterized as a revolution to the European tech ecosystem by its CEO, Albert Soriano, who explained that it would allow Sesame to go global and focus on AI-driven talent management.

The investments will facilitate the expansion of Sesame through Italy, Portugal, France, and Germany and strengthen its business in Brazil and Mexico. The HRTech company maintains the leading position in automation, workflow optimization and innovation of AI to have HR teams with more than 15,000 business clients and EUR 20 million of annual reoccurring revenues.

The European head of BBVA Spark, Miguel Angel Alcala, believes that this venture is the beginning of a new epoch of non-dilutive, growth-focused financing of tech companies.

The success of Sesame highlights the trend in the HRTech sector of the transforming SaaS and AI environment in Europe.