Kristen Anderson began 2019 in limbo. It seemed like her Cambridge startup was on the brink of running out of cash. A client owed her $450,000, but there was no sign of a check being cut. She and her cofounder, Andrew Ambrosino, had spent most of the previous six months trying to raise money from venture capital firms in Boston — unsuccessfully.
The classic bank account is starting to get a much-needed update for independent workers.
Catch has raised $8.1M in total. We talked with Andrew Ambrosino, its CEO.
Believe it or not, the gig economy now employs more than 1 out of every 3 Americans, according to a recent Gallup poll. But whether they’re driving for Uber, delivering for Postmates, or freelancing for a media publication, many gig workers don’t have access to employee benefits like health insurance, tax withholding, or retirement accounts.
Whether you’re an employer considering a benefits platform or you’re working in the gig economy, there are a wealth of start-ups out there with the goal of improving life in your workplace.
BBVA Open Platform and Catch announced today that they are working together to deliver banking and payments services for the contingent workforce, which represents nearly 40 percent of the US workforce, or 57 million workers, according to the Bureau of Labor Statistics.
Tyrrell is a co-founder at Catch, a startup that is working to rebuild the social safety net. She chats about gig workers, Y Combinator, and being a woman in fintech.
One of the hottest Y Combinator startups just raised a big seed round to clean up the mess created by Uber, Postmates and the gig economy. Catch sells health insurance, retirement savings plans and tax withholding directly to freelancers, contractors, or anyone uncovered. By building and curating simplified benefits services, Catch can offer a safety net for the future of work.
Hundreds gathered this week at San Francisco’s Pier 48 to see the more than 200 companies in Y Combinator’s Winter 2019 cohort present their two-minute pitches. The audience of venture capitalists, who collectively manage hundreds of billions of dollars, noted their favorites. The very best investors, however, had already had their pick of the litter.
Kristen Tyrrell is trying to invent things that don’t destroy the world. As the COO of Catch, she’s working to build a platform that helps freelancers and contract workers manage finances, save for retirement, get insurance, and more.