Green Dot & Gig Wage partner to offer modern banking tools for global gig economy
By Pavithra R
American FinTech and bank holding company Green Dot Corporation and Gig Wage announced the launch of strategic long-term investment and partnership to deliver better banking and financial tools to the world’s growing gig economy.
The partnership was announced in conjunction with Gig Wage’s $7.5M Series A funding round, in which Green Dot is the lead investor. Through the collaboration, Green Dot will serve as infrastructure bank partner enabling Gig Wage to add seamless, reliable banking solutions to its popular instant payments platform for gig workers. The funding round will have additional participation coming from Continental Investors, Techstars, Rise of the Rest, and others.
“The fast-growing gig economy presents tremendous demand and opportunity for enhanced banking and payments tools and experiences. We’re thrilled to partner with Gig Wage to grow this vertical and empower gig workers and their employers with faster, more seamless financial solutions,” said Dan Henry, CEO of Green Dot.
Gig Wage, by leveraging Green Dot’s Banking as a Service platform will now design and deploy their own customized banking and money movement solutions for its growing customer base. The company also has plans to introduce a new debit card powered by Green Dot with no monthly fee, free online bill pay, and free cash withdrawals at more than 19,000 ATM locations; free cash pick-up at over 7,000 retail locations nationwide; and other products and tools designed for gig workers and their employers.
“The 1099 economy is exploding, and Gig Wage is thrilled to bring a truly comprehensive solution to market. As we laid the foundation to offer financial infrastructure for the ‘Future of Work,’ it was abundantly clear Green Dot was the best partner for us to help the most people. Our partnership with Green Dot will not only help us on our mission to increase the GDP of the gig economy but also help us provide a financial social safety net for gig workers everywhere,” said Craig J. Lewis, founder and CEO of Gig Wage.
Established since 1999, The Green Dot Corporation is an American FinTech and bank holding company headquartered in California. The company offers businesses an all-in-one platform that seamlessly builds banking into their brand.
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