Ping raises $15m seed round to expand payment platform
By Gloria Methri
Ping, the payment platform for freelancers and contractors, has announced a $15 million seed funding round from key investors including Y-Combinator, Race Capital, BlockTower, Danhua Capital, Signum Capital, and Goat Capital.
The funds raised will be allocated toward Ping’s team expansion, hires for marketing, and sales.
It will also propel the platform to enable digital nomads to get paid in dollars or crypto, and offramp their salaries to local currency in an efficient and cost-effective way.
“Ping is the perfect solution for freelancers to get paid and for gig economy platforms like Braintrust, freelancer.com, Upwork to offer to their users,” said Pablo Orlando, Co-founder, and CEO.
“We established a platform that ultimately helps democratize access to higher-paid jobs as a result of remote work. Ping enables freelancers and contractors globally to see the possibility of earning in dollars and saving in an account in the USA as the highest possible dream.”
The Ping platform enables any individual, organisation, or company to create a free international account in US dollars and receive bank transfers – either in their foreign currency or cryptocurrency – instantly.
Embedded in the platform is Ping’s invoicing system where users can send invoices directly to their employers. Additionally, users can buy and receive cryptocurrencies such as Bitcoin, Ethereum, and Litecoin through Ping. It is live in both Android and iOS app stores and has a desktop view.
“Ping’s digital platform is the first of its kind for Latin America, and efficiently remedies ongoing payment issues with a mission to provide financial inclusivity on a global scale,” said Robin Chan, General Partner from Goat Capital. “We pride ourselves on investing in projects led by proven serial entrepreneurs. The funds will assist Ping with its global growth – we are delighted to join Ping in its mission to provide an international payment solution for digital nomads.”
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