Revelo (IFC-42773)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 10, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
REVELO TECNOLOGIA LTDA.
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 7, 2019

Disclosed by Bank May 31, 2019


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Project Description

Revelo (“the Company”) is a recruiting technology company that helps businesses across Brazil to efficiently hire knowledge workers (professional level employees) in various sectors including finance, marketing, business intelligence, and IT. The Company facilitates the hiring process through the use of its full-stack online marketplace where employers interact directly with job candidates to source, interview, and hire new employees. Revelo reduces the time needed to hire knowledge workers and provides its service at a fraction of the cost of its competitors. The proposed IFC investment (“Project”) consists of a minority equity stake to support Revelo’s expansion across Brazil.

People Affected By This Project

(i) Job Creation: Revelo will facilitate the placement of thousands of professionals in new jobs across Brazil, helping both SMEs and large enterprises alike to improve their productivity.

(ii) Hiring Equality: The Revelo platform helps to reduce hiring biases, thereby allowing women and other minorities to have a higher likelihood of getting hired.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/