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Thursday, June 30, 2022

Innovative Lithuanian hiring app receives €212,500 investment

NO-CV, a Lithuanian app focused on helping companies hire employees without relying on CVs, has recently received its third investment worth €212,500. The investment came from the business angels of LitBAN network and LatBAN, along with several Estonian angel investors.

Lithuanian entrepreneur Gediminas Vilčiauskas has founded his human resources startup NO-CV in November 2020 in an effort to help companies hire workers using better methods. Basically, the startup aims to make hiring process easier and better by eliminating CVs, which are sometimes seen as a burden both by jobseekers and employers.

At first, the Lithuanian entrepreneur started out on his own without a team. Then eventually he managed to build a team of 15 people and now the app has around 50,000 users. Moreover, about 800 companies from countries such as Lithuania, Latvia, and Denmark have used the platform to hire workers. Recently the startup has received its third investment of €212,500 for expanding further.

Innovative approaches of the app are carrying it to the global markets

During the development phase of the app, the startup was seen as quite attractive by investors. Mainly thanks to this perception, NO-CV received an investment of €320,000 to start out with. Then over time, NO-CV received more recognition as well as support from the Lithuanian Business Angel Network. Another investment of €150,000 for further development quickly followed.

In just one year the startup has seen impressive growth and plans to grow even further with the latest investment. We can attribute the relatively quick success of NO-CV to its innovative approach towards hiring and creative solutions that it provides for its customers. For example, instead of having to pay for individual ads, companies can now make use of the subscription model that is available with NO-CV. Vilčiauskas says that it was beyond his imagination that the startup would receive investment three times in a year. Then he goes on to add about the goals of the company:

“We strive not only to help foreign companies search for employees in Lithuania but also to encourage them to use this tool domestically.”

Sena Konakci
Sena Konakci
A true free spirit, Sena (she/her) spent a substantial part of her life travelling the world and was working for successful startups in many different fields along with writing for local newspapers and magazines for over two decades. With a knack for detecting promising businesses and years of experience under her belt, Sena has decided to focus her attention on writing about startups. Aside from following the newest developments in the startup scene of the Nordic countries, she loves volunteering and camping in her spare time.

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