Former Mint boss leverages Lean to give gig workers access to financial products
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Former Mint boss leverages Lean to give gig workers access to financial products
Gig and freelancers have different needs than salaried employees when it comes to financial products. It was a challenge that Lean founder Tilak Joshi realized during his tenure as Mint's head and several years as a product executive at American Express and PayPal.Although the United States has seen more major shifts in independent
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workforce in recent years, But traditional financial institutions "Failed to keep up" in his view.Seventy percent of freelancers live on paychecks and 30 percent are insufficiently insured,” he said. develop rapidly to them.Upon leaving the Mint in 2020, Joshi has teamed up with Eden Kfir and Ramki Venkatachalam. To start Lean in an
effort to support gig workers with platforms that offer access to financial products, he said. And today, the startup announced that it has raised $4.5 million in a seed round led by Inspired Capital, which includes participation from Atelier Ventures, Oceans Ventures and Acequia Capital.especially A number of marketing industry
operators have put money into this round. including DoorDash executive Gokul Rajaram; Instacart co-founder Max Mullen; Manik Gupta, former Uber CPO; Vivek Patel, former COO of Postmates; Bird CPO Ryan Fujiu; and others. The latest financing brings Lean's total to nearly $6 million to date. Other notable angels supporting the company include Charlie Songhurst,
Lightspeed Venture Partners (and former Stripe executive), Justin Overdorff, Coinbase's Marc Bhargava, and executives from ANGI Homeservices, Coinbase and Plaid.Joshi told TechCrunch that “freelancers see some of the toughest financial situations in the United States. “What workers do to fix their financial problems is work across different gig markets. |
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