Rodeo, a London-based finance app for independent contractors working in the gig economy, has recently raised $5 million (£4 million) in a seed round led by LocalGlobe, with participation from Seedcamp and Ventures. With this fundraising, the startup plans to hire a team to build new tools that put more power into gig workers’ hands.
Co-founded by Will Day and Alfie Pearce-Higgins in 2021, Rodeo helps drivers optimize their earnings from Uber Eats, Deliveroo, Stuart, Just Eat, and other gig economy platforms. The app gives these drivers insights into how their pay is calculated and which platforms, days of the week, and pickup locations enable them to generate the highest income. It also provides a chat feature that allows users to communicate with each other.
The company’s vision is a fair and sustainable gig economy where workers have easy, transparent access to all available jobs and financial services. The platform believes that if gig workers are to be truly independent, they need to be able to make informed decisions about when, where, and who to work for.
Speaking about the startup and its mission, Co-founder of Rodeo, Alfie Pearce-Higgins, said:
We’re on a mission to make life better for gig workers, and this funding round will enable us to help hundreds of thousands of hard-working drivers. Many of our users like the independence and flexibility that gig work provides. But for this to be sustainable, we believe gig workers need greater visibility of their work so that they can make informed choices and manage their finances. Rodeo helps to solve these problems.
Rodeo claims to have been used by more than 9,000 gig economy workers. It will also use the funding to build a single operating system where gig workers can manage all their work and finances. The app will be monetized by charging businesses that wish to offer users work opportunities and financial services.
Emma Phillips, Partner, LocalGlobe, added:
Rodeo has developed an innovative solution that will help delivery drivers work more efficiently and maximize their rewards for their hard work. We are excited to support the team in taking the gig worker experience to the next level.