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."