BBVA’s VC fund leads $9m funding round in finserv Steady
Steady, the US-based income-building platform for the build-your-own (BYO) workforce, has just closed a $9 million funding round led by BBVA’s venture capital investment unit Propel.
Steady is seeking to accelerate its expansion this year, and the new funds will be used to launch additional product lines.
The business helps workers by, for example, helping them find extra income generating shifts, build networks which can support work opportunities, and building buying power communities.
Other services it currently offers are augmenting retirement savings, working around childcare responsibilities, or supplementing insufficient income from a primary employer.
Steady says it will start offering financial services in the near future.
The firm says it leverages those within the digital economy, building or supplementing their incomes with second jobs, additional shift or other forms of part time, or gig, work.
Ex B-baller Shaquille O’Neal will join the team as an advisor and BYO advocate.
The Omidyar Network, the investment firm set up by eBay’s founder, is also participating.
Propel Venture Partners is an independent unit of BBVA, focused on investing into financial and technology businesses.
Most notably, BBVA announced in April it would invest $50 million into Sinovation Fund IV, a Chinese venture capital fund run by Sinovation Ventures, and with a special focus on artificial intelligence (AI).
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