Gigable, a shift work marketplace, has set its sights on raising €800,000 through an equity crowdfunding campaign in a bid to expand overseas. The company, founded by John Ryan in 2019, plans to utilise funding raised through Spark Crowdfunding to support its growth in the United Kingdom and to begin operations in the United States. This funding round values the firm at a considerable €7.56 million.
Gigable’s platform functions as a service platform for freelance gig economy workers, bridging the gap between businesses and workers including food delivery drivers, waiting staff, security guards, warehouse operatives, kitchen porters, and event stewards. The platform offers a variety of services to its users, including the ability to accept jobs, send invoices, communicate with clients and receive payments. Additionally, freelance workers also have access to a workplace benefits package, which includes digital GP services, mental healthcare, and accident and injury cover. For businesses, the platform provides gig scheduling and management, gig worker live location-tracking, automated delivery allocation and management, payments, and a two-way rating system.
Over 45,000 freelancers are on Gigable’s database, partnering with notable employers such as the Press Up Group, Bombay Pantry, Subway and Eddie Rockets. The company has processed over €9 million in transactions and is on track to generate €100,000 in monthly recurring revenues by the end of the year.
Mr Ryan stated, “With the gross value of transactions in the global gig economy worth $500 billion, we are well-placed to take a share of this. 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.”
Gigable’s previous backers include venture capitalists Delta Partners and Enterprise Ireland, along with investors such as Suretank founder Patrick Joy, former Google Ireland head John Herlihy, Hostelworld.com co-founder Tom Kennedy, and Voxpro founders Dan and Linda Kiely. Chris Burge, chief executive of Spark Crowdfunding, praised Ryan and his team, saying “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.”