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Green Dot invests in Gig Wage

Green Dot invests in Gig Wage

Californian bank Green Dot is investing in and partnering with startup Gig Wage to bring banking and financial tools to gig workers.

Green Dot has led a $7.5 million Series A funding round for Gig Wage, with additional participation from Continental Investors, Techstars, and Rise of the Rest.

In addition, Gig Wage will use Green Dot's Banking as a Service platform to design and deploy customised banking and money movement products.

The startup, which already provides an instant payments platform, plans to introduce a debit card with no monthly fee, free online bill pay, free cash withdrawals at more than 19,000 ATMs, and free cash pick-up at over 7000 retail locations.

Craig Lewis, CEO, Gig Wage, says: "Our partnership with Green Dot will not only help us on our mission to increase the GDP of the gig economy, but also help us provide a financial social safety net for gig workers everywhere."

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