Gig Wage is a platform that handles payroll processing, payments, and compliance services for independent contractors. Gig Wage’s instant payment platform connects its clients, customers and vendors, and contractors, enabling instant payments from one application. In addition, it provides electronic 1099 filing.
Key customers and partnerships
As of May 2024, the company had over 500,000 contractors utilizing its platform across 450+ businesses. Notable enterprises using the platform included Lyft, Stride and Outdoorsy.
Gig Wage partnered with Green Dot Corporation (October 2020), a financial technology company based in California, to serve as its infrastructure bank partner. Green Dot operates about 90,000 retail distribution sites nationwide and offers various financial products. This enabled Gig Wage to incorporate banking products into its payroll platform, similar to offerings by industry leader Gusto. In addition, the platform integrates with Visa and Mastercard bolstering the speed and flexibility of its payroll solution.
Funding and financials
Gig Wage raised USD 3.25 million in venture debt financed by Silicon Valley Bank in July 2021. Funds were earmarked to invest in key growth areas for its business.
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