May 27, 2022
As recently reported, Toronto-based financial technology start-up Moves has raised $6.39M in a seed round led by OMERS Ventures. Panache Ventures and N49P Ventures also participated in the financing. This seed round funding comes after the company raised $9.1M in 2020. According to Moves, the new investment will help toward its mission of “making the gig economy work for its workers”.
Moves was founded in 2020 and offers an all-in-one banking app for gig workers. The company employs 35 people and since launching its mobile app, has accumulated over 10,000 members. Moves expects to earn a collective $56M by the end of 2022. Through its app, Moves provides earnings insights across 16 supported platforms, as well as cash advances of up to $1,000. Most recently, Moves launched an initiative called “Moves Collective” that allows its users to earn shares as rewards in the companies they work for, which includes Uber, Lyft, Doordash, Grubhub, Target and Amazon.
By: Matthew Erdman