Freelance startup UnderPinned raises £500,000 in crowdfunding

Charlie Spargo's picture
by Charlie Spargo

UnderPinned, the freelance career platform, has successfully hit its crowdfunding goal of £500,000 through Crowdcube, despite difficult economic conditions throughout the current pandemic.

The startup offered up to 8% in equity and managed to raise the half-million sum in just three weeks from 232 backers. In total, it means UnderPinned has raised a total of £1.5 million.

UnderPinned recently announced it would provide all services included in its 'essential' plan free of charge during the coronavirus outbreak until September - supporting the freelance sector being hit particularly hard by the pandemic.

It will use the funds raised for operations in the short-term, and to build out its client-side portal. Ultimately, UnderPinned's goal is to reach 100,000 freelance users in the UK. 

Albert Azis-Clauson, Chief Executive and Co-founder of UnderPinned, said: “Our mission is to help freelancers find work, manage work and get paid, while building a sustainable and fulfilling career. The UK’s freelance population is growing fast and at the moment, there are a lack of services available to support people with this career choice. We’re here to change that.

“The growth of the UnderPinned community over the past year has demonstrated that there is a real appetite for this amongst freelancers and at the moment we are committed to doing everything we can to help this crucial workforce weather the current storm.”