Workchain Ltd
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Workchain Ltd - overview
Established
2006
Location
Derby, -, UK
Primary Industry
Outsourcing
About
Workchain Ltd is a flexible work platform that connects job seekers with temporary work opportunities across various sectors, streamlining the hiring process and enabling workers to earn on their own terms. Founded in 2006, Workchain Ltd operates as a flexible work platform facilitating connections between job seekers and temporary employment across multiple sectors. The company has established its headquarters in the United Kingdom and serves a diverse clientele from 21 strategic locations across the country. The founder's previous ventures are not publicly detailed, and there are no mentions of mergers or parent companies related to Workchain.
Recent funding rounds have targeted further expansion and operational enhancements. Workchain is a flexible work platform that connects job seekers with temporary work opportunities across various sectors, including driving, industrial, office, technical, and construction. The core product offering includes an online registration system allowing workers to sign up quickly, a live availability tool to share working days, and a digital timesheet submission process that facilitates swift payment within three days post-work completion. The platform aims to address the challenges of job matching by simplifying the hiring process, thereby enabling workers to earn on their terms.
Workchain services a diverse client base across 21 strategic locations throughout the United Kingdom, ensuring that both workers and employers can access flexible employment solutions tailored to their needs. The end users of this service comprise individuals seeking temporary employment as well as businesses requiring compliance and efficient staffing solutions. Workchain generates revenue primarily through a transactional model that facilitates the connection between employers and workers. The transaction structure is built around service fees charged to employers for hiring workers through the platform.
This may include various pricing plans based on the volume of hires or the duration of employment contracts. Employers can leverage the digital platform for quick access to compliant staffing solutions, while workers benefit from the streamlined processes that enable them to get paid efficiently for their services. The revenue model ensures that Workchain maintains a sustainable business by charging fees associated with the hiring and staffing processes, allowing for quick and effective matching of labor demand and supply in the flexible work market.
Primary Industry
Outsourcing
Sub Industries
Outsourcing, Recruitment/Executive Search
Website
www.workchain.co.uk
Total Amount Raised
Subscriber access only
Workchain Ltd - financials
| Fiscal Year Ended | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 |
|---|---|---|---|---|---|---|
| Revenue (USD) | 11,420,854 | 16,159,248 | 17,861,302 | - | - | - |
| % Revenue Growth (YoY) | - | 41.5% | 10.5% | - | - | - |
| EBITDA (USD) | 683,132 | 1,163,451 | 1,070,764 | - | - | - |
| Operating Income (USD) | 670,206 | 1,156,436 | 1,054,601 | - | - | - |
| Operating Margin | 5.9% | 7.2% | 5.9% | - | - | - |
| % EBITDA Margin | 6.0% | 7.2% | 6.0% | - | - | - |
| NET Income (USD) | 495,125 | 938,839 | 1,060,616 | - | - | - |
| % Net Margin | 4.3% | 5.8% | 5.9% | - | - | - |

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