Since its inception, the tech startup has established itself as a one-way video interview software provider in Africa and is generating good recurring cash flow but with the addition of an experienced partner and increased expansion capital, growth can be accelerated faster.
Knife Capital does not typically disclose funding amounts in early-stage portfolio companies as it may reveal strategic intent, impact future funding rounds and signal potential competitors.
Targeting international expansion
The cash investment will be used to boost marketing initiatives, expand teams and enhance product development. The goal is to cement Wamly’s position as the leading software application for recruiters in the local market, as well as to start executing international expansion plans throughout Africa and beyond.
Francois de Wet, founder of Wamly and an industrial psychologist, worked with many high profile corporates and CEOs. Over the years he noticed that they all had one thing in common, which was that they were highly frustrated with inefficiencies in the recruitment process. This realisation planted a seed for de Wet and in 2018 and he started a side hustle, tending to this problem.
Wamly started out as a typical startup and relied on personal networks and word of mouth referrals. During the first three months after launch, they had less than a thousand interviews and today they are doing several thousand a week.
Some of their clients include WeBuyCars, Momentum, Distell, Outsurance, USN, Ampath and many other great blue-chip companies.
Marnus Broodryk, entrepreneur and Shark Tank South Africa investor joined de Wet on the Wamly journey in 2020, challenging the very foundations of how the world has always done recruitment and utilising the latest technology to help the world hire better people faster.