Will, Sweden and the U.S.-based fintech who want to help freelancers request payment and pay for the fee immediately, have raised $ 3 million in funding. The founder of the company is a former member of Spotify’s growth team and has also created an influential marketing platform Relatable.
Leading the seed round is EQT Ventures. Also participating are former Atomico partners Matias Ljungman’s Moonfare Ventures, Nordic Makers, Michael Hansen and Johan Lorenzen. Willa says that the injection of cash will enable it to launch “Willa Pay”, an app that promises to remove required paperwork to billing corporations for freelance work and comes with a payment process that pays Claims to make collecting easier.
You have completed a job, use the Willa Pay app to enter a job description, how much you are about to pay, and who you worked for. Will Pay then contacts the corporation and issues paperwork.
If you want to pay earlier than the standard terms of the corporation, which is often anything from 30-90 days, you will pay directly for a small fee. The idea is that freelancers get more predictable income, and can pay their bills on time and protect their credit score.
“The payment process between freelancers and corporations has broken down completely,” says Christopher Somstad, co-founder and CEO. “It is designed for the Old World, by the people of the Old World. Both freelancers and corporations are losing a lot of money. At least half of freelancers experience problems with payments, while a third are late payments. result? Credit score decline ”.
Somstad states that the Will solves this problem by “re-engineering” the payment process. “We’re making it with the new freelance economy in mind. And we’re starting with the biggest problem freelancers face: being paid, on time, every time. As a freelancer, the Will Pay app Is a faster, simpler and better way to request payment for your work ”.
To help with the launch of Willa Pay, Sommestad says that the first 10,000 users of the product will be affected by an average number of more than 100,000. “They are brilliant creators, the world’s best product marketers and anyone suffering from payment problems,” he tells me. “This, by the way, is a great delivery move from the Spotify Growth Playbook”.
Meanwhile, on the question of competitors, Viella’s CEO says financial services are typically built by big companies like PayPal and Intuit, with many startups “building shiny equipment or launching yet another challenging bank” Huh.
“But none of them are solving the main problem for freelancers … that’s what we do in the Will. We’re focused on solving the biggest problem, which is for the most afflicted people.” .