Gig Wage, a payroll platform for the 1099 workforce, raised 3.25m in venture debt. Silicon Valley Bank (SVB) provided the financing. Founded in 2014, Gig Wage provides a FinTech payroll platform which enables employers to instantly pay 1099 workers while offering independent contractors an efficient way to receive payments. The company has raised $16.45m to-date from Green Dot Corporation, Silicon Valley Bank, Foundry Group, Continental Investors, Techstars, Revolution’s Rise of the Rest Seed Fund and more.
The company also announced the addition of Clarisa Lindenmeyer as Chief of Staff to the CEO and Chief Brand Officer. In this latest addition to the Executive Team, Lindenmeyer will build the Office of the CEO and lead the growth and development of the brand image, experience and promise – both internally and externally. She will do this in support of the mission to build the bank of the gig economy and create a financial safety net for under and unbanked workers.
The company intends to use the funds to invest in key growth areas of the business.
Announcement: Gig Wage Raises $3.25M for 1099 Payroll Platform