Posted on February 26, 2020 by staff

Collective Benefits secures £3.3m seed funding


Collective Benefits has secured £3.3m funding.

The insurance tech platform based in London is aiming to build ‘the first safety net for the gig economy’ through tailored benefits and insurance products.

Stride.VC led the round alongside existing investors Delin Ventures, Insurtech Gateway and several high profile angels with experience in building some of the largest gig platforms including Uber, Deliveroo and Urban.

CEO and Co-Founder Anthony Beilin said: “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.”

Collective Benefits is already working with a number of on-demand service platforms. The start-up will use the funding to further its growth and offering for gig platforms, while a consumer service aimed at freelancers will follow later this year.

Fred Destin, partner at Stride.VC, said: “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.”