Freelance payment platform AllWork closed a $4.9 million Series A funding round led by Nashville-based Fintop Capital.
WHO: Founded in 2016, AllWork launched with a focus on solving the freelance pain points of the beauty sector. Today, the platform has expanded beyond beauty to a category-agnostic solution unique in that it combines software, compliance, and payments into one complete, easy-to-use, integrated solution that customers love because it can be implemented in just two weeks and requires no other integrations. By providing one streamlined platform and one system of record, businesses can leverage the new modern workforce where the number of freelancers in the labor force will soon be equal to the number of permanent employees.
WHY: Company will use investment to expand its freelancer payment platform to respond to the increased demand for new software, compliance, and payment solutions driven by the shift to flexible work.
IN THEIR OWN WORDS: "At AllWork, we believe that there is a huge opportunity to rethink how companies and freelancers work together. We have designed a platform purpose-built for onboarding, management, compliance, and integrated payments so companies and freelancers can manage their relationship all in one place," said Glenn Laumeister, CEO of AllWork.
“We are seeing a major shift towards the use of freelancers in every type of job category, pay type, and skill level, and this macro trend fits perfectly with AllWork's product that helps companies manage and pay any type of freelancer that they need," said Chris Haley, Partner at Fintop Capital. "We were impressed by the vision of the AllWork team and how their solution solves this increasingly painful problem for medium-sized and enterprise customers."
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