Willa announced a $3 Million Seed Round for its app that guarantees freelancers will be paid on time. Freelancers and contractors, known as the contingent workforce, have become increasingly permanent part of the workforce strategy for businesses of all sizes. The trend is undeniable:
- The contingent workforce is nearing 50% of the total workforce.
- 47.8% of Americans are currently working or have previously worked as an independent during their careers.
- mall and medium-sized businesses (SMB) are increasingly leveraging contingent workers.
During economic downturns and recoveries in the past, employers leverage contingent workers to hedge their bets and keep costs low. Most economists expect a prolonged recovery to this economic downturn caused by COVID-19.
This could all add up to good timing for Willa to launch what looks like on-demand pay for contingent workers.