Gig Wage is a technology company.
Gig Wage has raised $11.1M across 4 funding rounds.
Gig Wage has raised $11.1M in total across 4 funding rounds.
Gig Wage has raised $11.1M in total across 4 funding rounds.
Gig Wage's investors include 7BC Venture Capital, Aperture Venture Capital, BootstrapLabs, EVE Atlas, Gaingels, Good Growth Capital, Ingeborg Investments, Revolution, Two Sigma Ventures, Anthony Pompliano, Hoda Eydgahi, Sam Palmisano.
Gig Wage is a fintech company founded in 2014 in Dallas, Texas, that builds a comprehensive payroll, payment, and banking platform tailored for the gig economy and 1099 independent contractors.[1][2][3] It serves businesses of all sizes managing freelance workforces and the contractors themselves, solving pain points like slow payments, compliance hurdles, invoicing, and tax reporting by enabling instant payments, automated onboarding, analytics, and fee-free banking tools such as debit cards and bill pay.[1][2][3] The platform has processed nearly $1 billion in payments to almost a million contractors, with $21.5 million in equity funding from investors including Green Dot, Motley Fool Ventures, and Revolution’s Rise of the Rest Seed Fund, alongside reported revenue of $5.3 million and around 25 employees.[1][2][3]
Gig Wage was founded in 2014 by Craig Jamal Lewis in Dallas, Texas, amid the rise of the gig economy, where traditional payroll systems struggled with the flexibility needs of independent contractors.[2][3] Lewis identified a gap in financial infrastructure for 1099 workers—encompassing accounts receivable, banking, payable, and spending—prompting the creation of a platform that modernizes contractor management from onboarding to payment.[1][3] Early traction came from simplifying compliance and instant payouts, leading to investments starting around 2020 from firms like Foundry and Green Dot, which supported expansion into analytics, verification, and banking integrations; the company has since paid out nearly $1 billion, marking pivotal growth in serving national gig workforces.[1][2][5]
Gig Wage rides the explosive growth of the gig economy, where independent contractors now represent a significant portion of the U.S. workforce, fueled by platforms like Uber and Upwork demanding faster, compliant payments.[1][2][3] Timing aligns with post-pandemic freelance booms and regulatory shifts toward 1099 worker protections, amplified by market forces like labor shortages and fintech innovations in embedded finance.[2] By building dedicated infrastructure, it influences the ecosystem through partnerships (e.g., Green Dot's gig worker research) and tools that boost retention, enabling businesses to scale talent pools while contractors gain financial stability—positioning it against competitors like FlexWage or Instant Financial in workforce management.[2][3]
Gig Wage is poised to expand as gig work globalizes, potentially deepening AI-driven analytics, international compliance, and marketplace integrations to capture more of the $1.4 trillion U.S. freelance market. Trends like earned wage access and regulatory clarity will accelerate adoption, evolving its role from payments specialist to full gig commerce enabler—much like how it already transformed payroll efficiency for early users, sustaining momentum toward unicorn potential.[1][2][4]
Gig Wage has raised $11.1M across 4 funding rounds. Most recently, it raised $8.0M Series A in October 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2020 | $8.0M Series A | 7BC Venture Capital, Aperture Venture Capital, BootstrapLabs, EVE Atlas, Gaingels, Good Growth Capital, Ingeborg Investments, Revolution, Two Sigma Ventures, Anthony Pompliano, Hoda Eydgahi, Sam Palmisano, Scot Wingo, Thomas Tull, Will Szczerbiak, Ethan Austin, Interlock Partners | |
| Jul 1, 2020 | $120K Seed | Flexcap, TMV, Nelson Chu, Rudra Peram | |
| Dec 1, 2018 | $2.0M Seed | 7BC Venture Capital, Aperture Venture Capital, BootstrapLabs, EVE Atlas, Gaingels, Good Growth Capital, Ingeborg Investments, Interlock Partners, Revolution, Two Sigma Ventures, Anthony Pompliano, Ethan Austin, Hoda Eydgahi, Sam Palmisano, Scot Wingo, Thomas Tull, Will Szczerbiak | |
| Jul 1, 2015 | $1.0M Seed | FasterCapital, IDG Ventures, Interlock Partners, Leawood Venture Capital, Alexander Rosen, Social Starts |