Gig worker platform Gridwise pulls in $12.7m

Gridwise, an app that helps drivers and couriers manage their earnings, has raised $12.7m in a funding round.

According to a report by Bloomberg, the funding was led by Crosslink Capital with participation from Autotech Ventures, Switch Ventures and Massive VC, among others.

Founded in 2016, the Gridwise app helps gig workers on platforms such as Uber track earnings and expenses and offers tips on how to boost their take-home pay.

The app, which is free to download, also connects drivers and couriers to benefits such as dental, vision and car insurance products.

Gridwise said it will use the funding to build more features for its gig-worker user base and expand its enterprise business.

Ryan Green, co-founder and CEO, “The pandemic was a difficult time, but it also helped us better understand how to help the drivers who depend on our app to make the most of their work. We understand better than anyone the supply and demand patterns, where drivers are working, which apps, when they stop and the economics of their trips.”

Earlier this week, Moves, an all-in-one banking app for gig workers, closed its seed funding round on $5m.

The platform currently has over 10,000 members, which are on track to earn over $56m by year’s end 2022. Its mobile app provides users with a spending account with no monthly fees or minimum balances, and the ability to take out a $1,000 cash advance.  Moves also helps gig workers become owners of the companies they work with.

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