Collective Benefits secures £3.3m in seed funding led by Stride.VC to expand its gig economy safety net platform.
The seed round was led by Stride.VC to support growth and product offerings for gig platforms.
Collective Benefits operates an insurance and benefits marketplace tailored for independent workers. The firm provides financial safety nets and workplace perks across multiple European markets.
Collective Benefits has secured £3.3m in a seed round led by Stride.VC, with participation from Delin Ventures, Insurtech Gateway, and angel investors with backgrounds in major gig platforms. The company aims to address the protection gap faced by independent workers by providing portable insurance and benefits.
Founded in 2019, the London based startup will direct the capital towards expanding its growth and enhancing its offerings for gig platforms, ahead of launching a consumer service for freelancers later in the year.
From the founder
"There are six million self-employed workers in the UK, which includes both higher-paid freelancers and gig economy platform workers. Yet, neither group typically has a safety net – no holiday pay, no family leave, no mental health support, not even paid sick days. We are building Collective Benefits so that the gig economy workers are covered by the same protections typically reserved for full-time employees."
Anthony Beilin
CEO and co-founder at Collective Benefits
Investor perspective
"We’re seeing services platforms gain unstoppable momentum in every segment of our lives, from rides to food delivery to freelancing. We need a new playbook. Collective Benefits addresses one of the core challenges in this brave new world of work, using technology to design and deliver a new type of safety net to all the participants in this fast-growing part of our economy."
Fred Destin
Partner, Stride Capital
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
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About the company
Collective Benefits
Collective Benefits provides insurance and benefits for independent workers.