US-based firm gigaroo, which adresses the financial needs of the Gen Z demographic, has announced a significant milestone in its journey.
gigaroo has successfully amassed $2.5m in a pre-seed funding round, boasting participation from a roster of undisclosed investors. The FinTech firm has witnessed substantial traction since its app was launched in the early part of the year, accruing thousands of Generation Z users and working in tandem with numerous service industry clients.
Founded in 2022 by Israeli entrepreneurs Adir Oren and Yair Almagor, gigaroo aims to tackle the unique financial challenges confronting Generation Z. The company’s AI-driven app is a tool of empowerment, connecting users with flexible job options in the service industry that fit with their lifestyle. Offering next-day payments, gigaroo encourages prudent financial planning, catering to both short-term needs and long-term aspirations.
gigaroo’s plans for the newly secured funding are decidedly ambitious. The start-up intends to expand operations into various US cities, such as Austin, Dallas, Miami and Boston. In addition to geographical expansion, the firm also plans to forge partnerships with restaurant point of sale and management systems. By helping businesses fill open positions and retain staff, gigaroo aims to generate a win-win situation. GenZ individuals gain access to financial stability, while businesses can reduce staff turnover, increase profits, and recoup an average of over $200k in annual lost revenue.
The company’s roots are firmly planted in Austin, TX, with a dedicated research and development centre located in Israel. Looking to the future, gigaroo has plans to raise its seed round in the coming months.
gigaroo CEO Adir Oren said, “At gigaroo, we are devoted to equipping GenZ with the tools, resources, and opportunities needed to thrive financially. Our AI-powered app serves as a bridge, connecting GenZ with flexible service industry job options that are aligned with their lifestyle.”
This announcement marks a key phase in gigaroo’s funding journey, following on from its initial founding in 2022.
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