Meet the entrepreneurs – Afshin Moayed, Partner/ Co-Founder, Individuum

1) What is Individuum? Give us your elevator pitch.

Individuum is a data driven company in the recruitment industry. 

Our mission is to offer ‘Employment for the Individual, Recruitment for Companies, Solutions for the Collective’. 

You might wonder how? Our platform www.Individuum.com offers an unique and easy, full funnel recruitment experience to hire and get hired. We focus on the recruitment journey from screening to signing, for both young jobseekers (students, graduates and young professionals up to three to five years of experience) and employers. 

Individuum’s flexible and scalable offer services the needs of startups, small and medium-sized enterprises as well as the needs of large corporations. 

It’s all about transparency and democratising the recruitment experience: we give full access to jobseekers and employers who all have access to the same tools, whilst they are charged based on usage and frequency.No more advertisement costs and success fees!

2) What inspired you to become an entrepreneur and start the business?

There have been many different inspirations that encouraged me to become an entrepreneur and start the business. 

I had an entrepreneurial drive since I can remember, most probably inspired by the fact that my grandfather is an entrepreneur himself. 

Nevertheless it was actually out of boredom and lack of interesting non-academic activities that I got involved in my first entrepreneurial project in high school. The intellectual challenge of starting something new was always a great source of motivation. 

At City University I had the opportunity to deal with the challenge that is youth unemployment and analyse it through different socio-economical lenses. Once we realised and understood the deep implications this social phenomenon has on an individual, as well as on a collective level, we couldn’t stay inactive.

 Having been involved in CitySpark before, it made sense for me and my co-founder to make the jump and start our entrepreneurial journey. 

It all initially started as a project before it became more serious and we realigned and elaborated the initial idea a few times to get the business to the stage we are at.

3) How have you funded the business? 

Individuum was bootstrapped since its inception and was personally funded until recently with the exception of a small pre-seed injection in 2013. It’s our early revenues that kept us afloat for so long. 

We are actually closing our first investment round this month and will start approaching some institutional investment solutions by the end of the year

4) What have you learned so far that might help others?

Solve big problems. This is the most valuable thing that I have learned. It sounds complicated and challenging, but it is actually in those processes that you learn most and make a contribution to society. The greater the potential impact, the greater the responsibility. It’s clearly a risk-reward play, but nobody should become an entrepreneur just aiming for the reward.

5) Where next for the business? 

The next steps for the business are to roll out our latest version of Individuum with live interviews in the UK and deliver more value to both jobseekers and employers. 

In the next six months we will roll out two to three new things on the platform. One is related to our contract solution that shall be made functional soon. The two others remain in development, so I won’t be able to comment on that. 

And as I mentioned earlier on, we will also focus on a second round of investment to accelerate our growth.

About the author: Riaz Kanani

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