Collective Benefits secures £6m from NFX to expand safety net for independent workers.
The seed follow on round was led by NFX with participation from existing investors.
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 £6m in a seed follow on funding round led by NFX, with participation from existing backers including Stride VC, Delin Ventures, Insurtech Gateway and various platform executives. The capital will support the company as it expands across Europe, doubles its workforce and rolls out new products for independent workers.
The raise follows a period of rapid growth for the platform economy, highlighting the precarious financial safety net available to gig economy workers. Alongside the investment, Pete Flint OBE of NFX is joining the board in an advisory capacity to guide the next phase of growth.
From the founder
"We see NFX's investment in Collective as a major vote of confidence in our ability to solve the protection gap problem for tens of millions of independent workers across the UK and Europe."
Anthony Beilin
CEO and co-founder at Collective Benefits
Investor perspective
"I'm thrilled to have brought Collective Benefits into our portfolio at NFX. We like to partner with the startups that will define their category. Collective is a fantastic fit in that regard: a market leader that's solving an as-yet unsolved problem – the missing safety net for independent workers – in a way that creates a win-win outcome for both independent workers themselves, and the platform companies they work with."
Pete Flint
General Partner, NFX
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
Investors
Categories
About the company
Collective Benefits
Collective Benefits provides insurance and benefits for independent workers.