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Software startup Lystable lands investment from PayPal co-founder Max Levchin

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Software startup Lystable has received additional funding from PayPal co-founder Max Levchin and LeFrak’s venture capital arm.

Although the amount remains undisclosed, the new contribution adds to the startup’s $11m Series A led by Peter Thiel’s Valar Ventures, which closed in June.

Although Lystable was founded in the UK by former Google designer Pete Johnston, the company has now reincorporated as a US firm.

UK investment news, a $233m acquisition by PayPal, Nokia’s 3310 returns and more in The Week in Tech

Johnston said: “We are thrilled to have Max join our team, the support of such an experienced founder and investor such as Max Levchin is a significant boost for Lystable.

“We have been working with his team at HVF on our product strategy which is bearing fruits already. We are excited about working with them,” added the founder.

Lystable will use the funding to expand its team in San Francisco and onboard new clients, which already include the likes of Google and Airbnb.

Levchin commented: “We have seen the rapid growth of freelancer marketplaces already make a dent in the traditional recruitment and staffing agency space; but really embracing these workers becomes harder for any company as it scales – let alone big corporations. Lystable is pushing the industry forward, by making it easy for corporations to work with freelancers, and vice versa.”

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