The Story of Giggle Finance:
giggle finance This is a simple story. In spite of that the Gig Economy representing almost 50 percent in the U.S. workforce, it is financially unserved. We at Giggle We’re working to make a difference. Through the use of technology, customer service, and most importantly openness, we can transfer cash to your bank account within a matter of minutes. It doesn’t matter if you want to help you take on more tasks or pay for an unexpected expense, or find a solution problems with your cash flow, Giggle is here for you.
Our Goal :
Giggle was founded with a clear and concise objective: to provide clear and rapid funding for those in the Gig Economy.
Our Core Values Giggle is completely dedicated in serving Gig Economy. Our method of delivering the universal accessibility to financing needed to those in the Gig Economy begins with our basic values:
- Transparency and Integrity help build trust. We aim to ensure that our application and financing contract as simple and straightforward to comprehend, with no charges that are not disclosed. It is crucial that we treat each other and our customers with respect and honesty with each other.
- Excellent Customer Care Be attentive, understanding and very compassionate with your customer.
- Care deeply The more we take care of our customers the more we will be able to offer exceptional customer service.
- Technology and Innovation Our clients have the right to world class service and the best products and services to help them achieve their ambitions. Let’s make an improved financial system with technology and creativity.
We started Lead Prosper in early 2020 We’re humbled by the contribution we’ve made to the businesses of our customers. Since we’re a relatively small lead distribution company competing with several of the Goliaths within the industry We think that the relationships we have with our our customers allow us to stand out from the rest of the pack. We’ll every now and then visit into a few of them, learn about their experiences and learn about what their experiences were using our platform.
Getting giggle finance Off the Ground
This time we’re talking to Mike Zevallos and Jared Kogan who founded Giggle Finance. Mike and Jared created Giggle when they noticed that the majority of people working in the gig economy had a difficult time accessing capital. The rideshare chauffeurs, Etsy sellers, Fiverr sellers, and a myriad of other consultants and freelancers will account for more than half of the work force by 2024. However, they’re mostly left out with regards to the financing choices for businesses.
Low-Interest rate
Jared states the fact that “The top 10% of the market might qualify for a lending club or a personal loan product, but the bottom 90% of the market doesn’t really have a good option–so they end up with something like a payday loan.” Payday loans are low-interest, small loans that can be a dangerous option for borrowers as they must be paid back in a short time. When the loans aren’t repaid within the time frame specified typically, 2 weeks, many customers end up prolonging the duration of the loan in exchange for an additional charge and beginning the process all over again.
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The research conducted by the Consumer Financial Protection Bureau shows that the average cost of payday loans amounts to $23.53 for each $100 borrowed which is an astounding 613% APR. Mike and Jared thought that no one should need to depend on payday loans for emergency expenses in business, so they set out to design an alternative to financing working capital for gig workers and independent contractors.
The pair brought an abundance of FinTech expertise to their latest venture that helped them develop an easy-to-use product that is very user-friendly. “We have launched a fully-automated platform that allows customers to transfer from an app to their account in just eight minutes. We were looking for speed as well as efficiency and the capability to grow.” After they’d developed the product they needed to identify the people who would benefit from the product.
First Leads, Then Prosper
As Jared remembers, “When Mike and I started, we had familiarity with customer acquisition, but we didn’t have much experience in the lead gen space.” The two realized that they needed help, and they began to research the different alternatives available. It was a long process and they were becoming exhausted. As per Mike, “We interviewed with about five or four lead management systems that were available however, they were all either too costly or did not have the features we needed.
They were all focused on selling leads and lead sellers, which made no sense to us as buyers. Lead Prosper was just getting established however, we were fortunate enough to discover the site a couple of pages later in the results of a search, and their platform was able to provide the services we needed for a reasonable price.”
Details of Giggle
We’ll never know the details of what Jared was up to on the third page of Google results (seriously dude, who would do this? ) However, we’re grateful for the chance to assist Giggle increase access to capital for the majority of the population. Giggle’s clients are people whom we depend on day-to-day including the Uber driver who needed replacement of the engine of his vehicle.
He required $800 for repair, however, since his primary source of income coming from a commissions, he was thinking of renting a vehicle to earn another $500 per week. He was also saving money until when he stumbled upon Giggle. He received his cash in a matter of minutes, and was back in his vehicle the next day without having to pay for a significant part of his income to the rental of a vehicle or get a hefty payday loan.
A Leader in Lead Gen
Giggle started their platform in September of 2020. Lead Prosper was instrumental in helping founders acquire the first 100 customers needed to start the business up and running. Jared admits to the boost and says “Had we not opted for Lead Prosper I believe we’d have needed more time to get to the position we’re at now and the ramp-up could have taken a lot longer. They were able to explain the entire process to us in terms of both a technology and logistics/operations standpoint.”
Mike is in agreement and focuses on two aspects in the Lead Prosper product stand out: “Their UI, because it makes it incredibly easy to run and manage our company, as well as their support. They’ve been an enormous help when we were in a bind creating custom scripts for us and helping us get up and up and running. They’ve also made important introductions to people they believe might be relevant to us. That’s the level of care and assistance that I’m not sure you’ll receive from other 800-pound gorillas that are available.”
Support for Business
Thank you to Mike as well as Jared and to the entire Giggle team, we’ve had a blast working with you. we’re excited to support you and your business on the way to the stars!
Giggle Finance is the nation’s first finance platform that is designed to concentrate specifically on independent contractors, gig employees and freelancers. Through data analytics, technology and top-quality client service Giggle provides up to $5,000 just 8 minutes to over 50 million gig workers across the country.
The majority of U.S. labor force is today engaged in gig economy. That’s 53 million people who drive dogs, doing freelancing babysitting, as well as delivering every conceivable service. In spite of that the Gig Economy representing almost 50 percent in the U.S. workforce, it is financially unserved. At Giggle We’re here to make a difference.
Through the use of technology, superior customer service, and above all the transparency of our service, we can deposit money into your bank account within a matter of minutes. It doesn’t matter if you want to be able to do more work or to pay for that unexpected expense, or address your cash flow issues, Giggle is here for you.
