Ualett, a financial technology platform serving independent workers across the United States, has secured a $150m debt facility from Thiele Capital Management.
The credit line, which runs for three years, will allow Ualett to step up its go-to-market strategy and broaden its customer base within the fast-growing gig economy.
Founded to address the financial needs of independent contractors, Ualett provides cash advances to rideshare drivers, couriers, and other 1099 workers. Its service operates without credit checks, hidden fees or traditional loan structures, instead using real-time earnings verification to assess eligibility. This approach is designed to improve financial access for workers who are often excluded by mainstream systems.
The fresh capital will be deployed to deepen Ualett’s presence in underserved regions and expand its offering to new categories of gig workers. The company said the facility would help accelerate its growth trajectory and enable it to roll out more products tailored to the needs of independent workers.
Thiele Capital Management CEO Alex Thiele said, “From day one, Ualett’s disciplined approach to serving gig workers stood out to us.
“We’ve been impressed by the business that Ualett has built over the past three years of our partnership. This new debt facility reflects our confidence in their ability to scale responsibly while continuing to meet the unique financial needs of independent workers across the United States”.
Ualett co-founder and CEO Ricky Michel Presbot said, “This partnership with Thiele Capital isn’t just about capital, it’s about long-term alignment.
“With this facility, we’re accelerating our ability to reach more workers, offer more products, and reinforce what makes Ualett different: trust, transparency, and technology purpose-built for the gig economy.”
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