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This Black Owned FinTech Payroll Startup Has Raised Almost $11M

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Gig Wage is a Black owned Fintech startup that builds modern payroll, payments, and banking tools for the Gig Economy.

As of a few weeks ago, Gig Wage has now raised $10.7M in total equity funding. The funds will help with its growth in areas that include sales, marketing, and ongoing product innovation.

We caught up with founder, Craig J. Lewis to find out more about his business.

Black owned fintech
Gig Wage founder, Craig J. Lewis

What inspired you to start Gig Wage? 

In 2016 I read a report from McKinsey on the Global Independent Workforce aka the Gig Economy and it struck me that no one was really servicing the businesses that pay these workers.

I thought to myself, “We can become the payroll technology for the Gig Economy.” It also really scratched an itch I had to leverage payroll to impact the end user experience (the people getting paid). Gig Wage was an opportunity to be B2B2C and help everyone involved.

To what do you attribute the rapid growth of your business? 

The Gig Economy was rapidly expanding and Gig Wage was growing really fast pre COVID but COVID19 has definitely been an accelerant. The increased need for delivery has been the main area of growth we’ve seen.

black owned fintech

How does Gig Wage benefit employers? 

Gig Wage provides all the technology and tools businesses need to pay contractors/freelancers/gig workers in a fast, flexible, and modern way. Also by having 1099 specific software helps with classification concerns.

Where do you see your business in 5 years? 

Global with a 10 figure valuation.

What advice do you have for aspiring entrepreneurs? 

Get started, keep going.

 

Tony O. Lawson


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