Service platform for freelance gig economy Gigable has launched a crowdfunding campaign.
Shift work marketplace Gigable has already raised €473,271 within 48 hours of launching a crowdfunding campaign to raise €800,000.
The business is raising the money on the Spark Crowdfunding platform to accelerate its growth rates in Ireland and the UK as well as spearhead an expansion into the United States.
“With the gross value of transactions in the global gig economy worth $500bn, we are well-placed to take a share of this”
Gigable is on track to generate €100,000 in monthly recurring revenues by the end of 2023.
Powering the gig economy
Launched in 2019, Gigable connects businesses with independent workers such as food delivery drivers, waiting staff, security guards, warehouse operatives, kitchen porters, and event stewards, who can accept jobs, send invoices, communicate and receive payments through the platform.
The company has more than 45,000 freelancers on its database and connects independent businesses directly with the gig economy community, where they can choose gig workers to work with based on their ratings and experience.
Gigable has partnered with employers such as The Press Up Group, Bombay Pantry, Subway, Tribal Burger, Pizzabaker, Eddie Rockets, John Dory, and Go Puff.
“With the gross value of transactions in the global gig economy worth $500bn, we are well-placed to take a share of this,” said Gigable CEO John Ryan.
“The business model is proven in Ireland and the UK and we are now looking to the USA to accelerate our growth rates. Having raised funds from institutional investors it makes sense to bring private investors in at this time, ahead of our planned Series A fundraising next year.”
The platform incorporates a vast array of functionality for every business, including gig scheduling and management, gig worker live location-tracking, automated delivery allocation and management, payments, and a two-way rating system.
More than €9m worth of transactions have been processed through the Gigable platform since 2020 and revenues of more than €1.1m have been generated in the same period.
“We are highly impressed with what John and his team have achieved over the last 2 years,” said Chris Burge, CEO of Spark Crowdfunding.
“Their proprietary technology and clearly defined business model makes this a highly scalable business with global potential. We are delighted to offer Spark Crowdfunding investors exclusive access to a venture capital type investment opportunity.”
Main image at top: Gigable CEO John Ryan