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Robert Lewis

Moves Raises USD $5 Million to Empower Gig Workers to Own the Gig

May 24, 2022 by Robert Lewis Leave a Comment

Toronto’s Moves has closed a USD $5 million seed funding round led by OMERS Ventures to advance its mission of making the gig economy work for its workers.

Moves is the all-in-one financial app built exclusively for gig workers. Moves’ members across 50 states manage their money better while earning free shares in the companies they work for.

The gig economy, which has erupted over the last several years, continues to grow exponentially, and now includes  more than one-third of all U.S. workers. In the U.S., the current gig workforce of 59 million is expected to grow to 86 million by 2027.

“The gig economy is surging, yet its workers continue to be left behind,” said Matthew Spoke, CEO of Moves. “Recent studies have shown that 80% of gig workers report an unexpected expense of $1,000 would be difficult to pay. Our commitment to helping our members starts with reducing day-to-day financial challenges and then grows to give them a seat at the table as shareholders. As we move forward in our journey, we are grateful to those investors who are joining us in our support for gig workers.”

Moves launched its mobile app in 2021 after spending hundreds of hours in cars, on bikes, on foot, in parking lots and burrito lines listening to gig workers. Since its founding, Moves has built its products in partnership with gig workers, focusing  exclusively on their needs.

Moves has over 10,000 members on track to earn over $56 million by year’s end 2022 and better manage their money with early deposits for weekly payouts, earnings insights across 16+ supported apps, and cash advances up to $1,000. 

To accelerate its mission of making the gig economy work for its workers, Moves has taken a radical approach of enabling thousands of gig workers to become owners in the companies they earn on. Inspired by recent shareholder activism towards ESG objectives, Moves is allowing its members to earn share rewards* in Uber, Lyft, Doordash, Grubhub, Target and Amazon through the Moves Collective.

“Moves is uniquely positioned to solve many of the challenges gig workers are encountering,” said Laura Lenz of OMERS Ventures. “The Moves Collective, for example, is a brilliant solution to a persistent issue for gig workers, who traditionally don’t share in any of the value they have helped create.”

The Moves Collective now holds over 4,500 shares across the supported public gig companies.

In parallel, Moves has elevated the voice of its members through its first shareholder proposal to Uber, advocating for an independent board member with first-hand experience earning in the gig economy.

The $5 million financing round also included a group of former gig economy and consumer technology senior executives from companies such as Airbnb, eBay, Facebook, Lyft, Uber, and Shopify. Other investors for this round include Panache Ventures and N49P Ventures. 

Filed Under: Featured, News Tagged With: Moves, N49P Ventures, OMERS Ventures, Panache Ventures

Indie Music Leader CD Baby Chooses Montreal’s Trolley as Artist Payout Partner

May 17, 2022 by Robert Lewis Leave a Comment

Montreal fintech Trolley has been selected by CD Baby as a payout partner for its global roster of 1.2 million recording artists. [Read more…] about Indie Music Leader CD Baby Chooses Montreal’s Trolley as Artist Payout Partner

Filed Under: News Tagged With: Trolley

CI Global Asset Management Joins CapIntel’s Impressive Roster Of Wealth-tech Clients

May 16, 2022 by Robert Lewis Leave a Comment

Toronto fintech CapIntel has partnered with CI Global Asset Management, one of Canada’s largest investment management companies.

CapIntel’s wealth management technology improves day-to-day workflow efficiency and fund analysis for financial advisors, enabling wealth firms to provide enhanced services leading to outsized growth. [Read more…] about CI Global Asset Management Joins CapIntel’s Impressive Roster Of Wealth-tech Clients

Filed Under: News Tagged With: CapIntel

Vancouver’s Blossom Launches Social Investor App On The App Store

May 13, 2022 by Robert Lewis Leave a Comment

Three months after closing a pre-see investment round, Vancouver fintech startup Blossom is publicly launching on the App Store.

The social network for retail investors, the first of its kind available to Canadians, received the investment round from Pareto Holdings, the venture fund co-founded by Shutterstock founder Jon Oringer. [Read more…] about Vancouver’s Blossom Launches Social Investor App On The App Store

Filed Under: News Tagged With: Blossom

You May Owe Your Banking Relationship To Fintel Connect

May 11, 2022 by Robert Lewis Leave a Comment

If you’re a client of a Canadian financial services company like Borrowell, EQ Bank, Mogo, Scotiabank, or Tangerine, you may owe that relationship to Fintel Connect. [Read more…] about You May Owe Your Banking Relationship To Fintel Connect

Filed Under: News Tagged With: Fintel Connect

The Best Workplaces in Canadian Fintech

May 9, 2022 by Robert Lewis Leave a Comment

No one should be surprised to learn that Toronto continues to be Canada’s leader for fintech opportunities and now we know that Toronto’s fintechs are among the Best Workplaces in Canada. [Read more…] about The Best Workplaces in Canadian Fintech

Filed Under: News Tagged With: Bitbuy, Borrowell, FreshBooks, Irwin, Koho, Moves, Newton, Properly, Wave

How Fast Growing Float is Fixing Corporate Spend Management

May 6, 2022 by Robert Lewis Leave a Comment

There’s a traditional model of employee expenses, and it looks something like this: employees are asked to spend money on their personal or corporate cards, file expense reports, and then wait for reimbursement.

Rob Khazzam knew there must be a better way. That’s why he, along with Griffin Keglevich and Ruslan Nikolaev (pictured), founded Float Financial Solutions to help small and medium-sized businesses simplify the process. [Read more…] about How Fast Growing Float is Fixing Corporate Spend Management

Filed Under: Interviews Tagged With: Float

Square Launches Square Loans In Canada

April 28, 2022 by Robert Lewis Leave a Comment

Digital payments giant Square is launching Square Loans in Canada, giving small businesses quick and simple access to funds and eliminating another major pain point associated with running a business. [Read more…] about Square Launches Square Loans In Canada

Filed Under: News Tagged With: Square

OneVest Raises $5 Million for Canada’s First Wealth-as-a-Service Platform

April 26, 2022 by Robert Lewis Leave a Comment

Calgary’s OneVest has secured $5 million in venture financing for Canada’s first Wealth-as-a-Service (WaaS) platform. [Read more…] about OneVest Raises $5 Million for Canada’s First Wealth-as-a-Service Platform

Filed Under: News Tagged With: Luge Capital, Neo Financial, OneVest

Q+A with NDAX’s Chief Compliance Officer on the Canadian Crypto Industry

April 14, 2022 by Robert Lewis Leave a Comment

As cryptocurrency and blockchain technology continue to evolve, it’s no surprise of Canadian’s allure to the age of digital assets. However, here is what the experts in the space want those with crypto curiosity to know and recommend what to watch out for when entering this new, innovative and exciting space. [Read more…] about Q+A with NDAX’s Chief Compliance Officer on the Canadian Crypto Industry

Filed Under: Interviews Tagged With: NDAX

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