Information on the Target

Flow Capital Corp. (TSXV:FW) is pleased to announce the acquisition of its portfolio company, Wirkn, by JobGet, a rapidly expanding app-first hiring platform catering to hourly workers in the United States and Canada. Wirkn specializes in providing a recruiting software solution that integrates an applicant tracking system (ATS) with a user-friendly mobile interface, facilitating hiring processes for over 17,000 malls, restaurants, and retailers throughout North America.

This acquisition presents an opportunity to enhance Wirkn’s manager-friendly system by integrating it with JobGet’s advanced AI capabilities and robust market presence. This collaboration aims to improve connections between hourly businesses and potential job seekers, fostering seamless hiring experiences.

Industry Overview in the Target’s Specific Country

The hiring landscape in the US and Canada is constantly evolving, particularly with the rapid growth of digital recruitment solutions. As organizations increasingly move towards app-centric hiring processes, the demand for efficient and innovative recruitment tools is surging. Platforms like JobGet have adapted swiftly to meet this demand, connecting millions of job seekers to a diverse range of employers.

Currently, there are over 70 million job seekers in North America, representing a significant workforce that spans various industries including retail, hospitality, manufacturing, and healthcare. Employers are looking for solutions that not only streamline hiring but also ensure quality in placements, which has fueled the rise of platforms focusing on fast and effective hiring.

Moreover, as the gig economy continues to grow, the need for flexible employment solutions for workers has become increasingly apparent. This trend highlights the importance of platforms that cater specifically to hourly and temporary job seekers, creating a unique niche within the broader employment market.

As businesses strive to maintain competitive edges, leveraging technology in recruitment is becoming essential. Companies are now prioritizing partnerships with software providers that enhance their hiring processes and improve overall efficiency.

The Rationale Behind the Deal

This acquisition is strategically advantageous for both Wirkn and JobGet. By combining Wirkn's user-centric approach and established client base with JobGet's innovative technology and extensive reach, the deal is set to capitalize on growing market needs. The integration of Wirkn’s capabilities into JobGet’s platform is expected to create a more comprehensive hiring solution that will benefit both employers and job seekers.

The alignment of the two companies' strengths will allow them to better serve a variety of industries facing hiring challenges, especially those that require quick and reliable employment solutions. This collaboration underscores Flow Capital's commitment to fostering growth in innovative companies within the recruitment sector.

Information About the Investor

Flow Capital Corp. is a publicly traded Canadian venture debt lender with a focus on providing flexible growth capital to high-potential companies. Established in 2018, Flow Capital has extended its financial support to emerging businesses in the US, the UK, and Canada, accentuating their role in nurturing companies without the constraints typically imposed by traditional banks.

With a specialization in revenue-generating, venture-capital-sponsored, and founder-owned enterprises, Flow Capital seeks investments ranging from $3 million to $7 million. Their goal is to enable companies to accelerate growth while avoiding the dilution of equity, making them a valuable partner for expanding businesses.

View of Dealert

This acquisition between Wirkn and JobGet appears to be a strategic move that could yield significant benefits for both entities, as well as for Flow Capital as a shareholder in JobGet. With the recruitment industry at a pivotal point in adopting technology-driven solutions, the fusion of Wirkn's operational expertise and JobGet's infrastructure sets a promising groundwork for future growth.

Moreover, the increasing focus on app-based hiring platforms positions the newly merged company favorably within a rapidly changing labor market. By enhancing its capabilities through this acquisition, JobGet is well-poised to meet the needs of employers seeking efficient hiring solutions and candidates searching for accessible job opportunities.

Ultimately, this investment reflects Flow Capital's strategic focus on backing innovative solutions in key sectors. The integration of these two platforms has the potential to transform hiring practices for hourly workers, which could result in substantial market share growth for JobGet, marking the acquisition as a potentially lucrative endeavor.

In conclusion, this deal not only supports the growth ambitions of both companies but also strengthens Flow Capital’s investment portfolio, showcasing their commitment to fostering innovation in the employment sector.

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