“Fountain focuses exclusively on the blue collar and gray collar workforce. A vast majority of people… aren’t doing PowerPoint or Excel, they’re doing things on the front lines of our economy,” Behr said, adding that hiring and retaining workers in the blue and gray collar economy has never been easier As now. difficult.
India is the “most natural place” to invest and expand because there are tremendous opportunities and growth rates in the blue/gray collar market, Behr noted.
“China has a similar dynamic, but there are obviously geopolitical challenges, while in India you have a larger population and a very good place for technology to invest in this market,” he said.
Behr pointed out that India has more people in the workforce with a smartphone that enables payments, compared to the United States’ total population of 330 million.
“With 8 million manual informal processes, it is absolutely impossible to scale to 25 million employees and still use manual processes. You have to bring technology that standardizes the process for these employees and that benefits both the employee and more importantly. .. Company.”
Fountain aims to bring standardized technical processes to an “informal, disorganized spreadsheet system – forms and paper.”
Behr said that by 2022, Fountain was hiring more than 3 million blue-collar and gray-collar workers in 75 countries and using 35 different languages.
He pointed out that a country like India presents issues of scale and complexity because of the diversity aspect here.
“In Germany you really only need one language, here that doesn’t work. You have to have technology that is smart enough to know that… if I recruit in Karnataka or Delhi, I may interact with an applicant ( and) must have the ability to switch languages,” he said.
Behr also outlined IPO plans for Fountain, which marks his fourth venture after starting up in e-commerce, advertising and automotive.
“It’s still a few years away for us… it’s incredible investment. You have to hire a lot of people… build the right financial reporting, legally… which takes you away from building the business,” he said.
The company last raised money in its Series C round in 2022, amid a challenging environment for late-stage startups, and said it has plenty of money in the bank for now.