Rodeo Secures £4 Million Funding Boost to Revolutionise Gig Worker Finance

April 5, 2023

Rodeo Secures £4 Million Funding Boost to Revolutionise Gig Worker Finance

Rodeo, a finance app tailored for gig economy workers, has secured an impressive £4 million investment round led by LocalGlobe. Founded in 2021, Rodeo caters to the needs of independent contractors, particularly those working as couriers for companies like Just Eat and Uber Eats. With this recent infusion of capital, Rodeo is poised for significant growth, aiming to extend its services to the vast landscape of UK-based gig workers.

Alfie Pearce-Higgins, co-founder and CEO of Rodeo, expressed the company's mission succinctly, stating, “We’re on a mission to make life better for gig workers." The app allows users to track earnings across multiple gigs and provides insights into potential earnings from various jobs, facilitating informed decision-making. Pearce-Higgins emphasised the importance of visibility in gig work, noting that while many appreciate the independence and flexibility it offers, sustainable livelihoods require greater transparency in earnings and job choices, an area where Rodeo aims to make a difference.

The recent investment round, spearheaded by LocalGlobe with support from Seedcamp and From Ventures, underscores investor confidence in Rodeo's innovative approach. Emma Phillips, a partner at LocalGlobe, commended Rodeo's solution, emphasizing its potential to enhance efficiency and maximize rewards for gig workers. Phillips highlighted Rodeo's commitment to elevating the gig worker experience, indicating enthusiastic support from investors.

Despite its promising trajectory, Rodeo encountered a setback when Deliveroo restricted access to earnings data for its couriers. However, the incident hasn't deterred Rodeo's momentum. With a user base already exceeding 9,000 gig economy workers, including drivers from prominent platforms like Uber Eats and Just Eat, Rodeo is well-positioned to revolutionise the gig economy landscape.

Rodeo's vision extends beyond mere earnings tracking; it aims to create a comprehensive operating system for gig workers. The app seeks to centralize work and financial management, offering a platform where users can access job opportunities and financial services seamlessly. This holistic approach reflects Rodeo's commitment to empowering gig workers, ensuring they have the tools to thrive in an evolving employment landscape.

The gig economy, encompassing various sectors from deliveries to office work, has faced scrutiny over data transparency and workers' rights. With Rodeo's focus on transparency and empowerment, it stands as a beacon of change within the industry. As gig work continues to evolve, platforms like Rodeo play a pivotal role in shaping a fair and sustainable future for gig workers.

Looking ahead, Rodeo's expansion plans align with the growing gig economy landscape in the UK, where an estimated 7.25 million gig workers contribute to various sectors. By leveraging the recent funding, Rodeo aims to reach a broader audience, offering its transformative services to gig workers across the nation.

In conclusion, Rodeo's successful funding round signals a significant milestone in its journey to redefine the gig economy experience. With a clear mission, innovative approach, and strong investor backing, Rodeo is poised to empower gig workers and drive positive change within the industry. As it continues to expand its reach and refine its services, Rodeo stands as a catalyst for a more transparent, equitable, and sustainable gig economy ecosystem.

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