Delhi-based Truelancer, an online freelance marketplace, has raised an undisclosed amount in seed round of funding from USA-based Blackstone Valley Group led by Raghu Vohra, Aditya Dev Sood, Kamal Bansal and few other angel investors.
As a part of the deal, Blackstone Valley Group will onboard their operational expertise and network to Truelancer and Raghu Vohra will join Truelancer’s board.
Launched in September 2014 by Dipesh Garg and Rajshekhar Rajaharia, Truelancer, is a curated freelance marketplace. Its online portal has over 200K freelancers who are available to be hired as developers, designers, content writers, virtual assistants, growth hackers, social media experts etc.
The funds will be utilised for marketing and to expand the product for enterprise clients to help businesses & individual employers hire quality & skilled professionals.
Truelancer has a “Buy & Sell” service section wherein clients can “post projects” for freelancers or can ‘buy’ from existing fixed services from the listed registered users. Posting a project is free for freelance service buyers. For freelancers, Truelancer charges a percentage from their earnings, based on their membership, which is both, free and paid.
The startup has a maintained a communication system through which project invites, work updates and payment requests are shared. Payments are held in a secure system called “Safe Deposit” by the company, and is released once the work is completed.