Giggle offers a cash disbursement platform that enables gig economy workers to receive their earnings directly into their bank accounts within minutes through real-time payment processing technology. This service provides immediate access to funds, addressing the financial instability faced by freelancers and gig workers due to delayed payments.
Funding
Funding not disclosed
Founders
Product
Problem
Freelancers, gig workers, and other 1099 contractors often experience cash flow challenges due to inconsistent payment schedules and delays in receiving earnings. Traditional financing options may be unavailable or unsuitable for these workers due to their non-traditional employment status and lack of credit history. This can create financial instability and limit their ability to cover immediate expenses or invest in their businesses.
Solution
Giggle provides working capital financing to 1099 workers, independent contractors, and small business owners, offering access to funds up to $20,000 in minutes. The platform uses an automated process to analyze bank statements and determine eligibility, without requiring a credit check. Giggle offers a flexible payment schedule tied to business revenue, with options for prepayment discounts. By providing quick access to capital, Giggle aims to empower entrepreneurs and improve their financial stability.
Target Audience
The primary target audience includes app-based freelancers (e.g., Uber, Lyft, TaskRabbit), small business owners (e.g., truckers, salons, food trucks), and independent contractors (e.g., consultants, event planners) who need quick access to capital.
Features
- Instant funding available 24/7/365 via debit card or bank transfer
- Simple online application process that takes approximately 8 minutes
- Funding amounts up to $20,000 for repeat customers, depending on business revenue
- No credit score requirements; approval based on business income and bank statement analysis
- Transparent terms with no hidden fees
- Flexible payment schedules aligned with business revenue
- Reporting to Experian and Transunion to help build business credit with on-time payments
- Prepayment discounts offered for early loan payoff