Willa, a Sweden-based creator economy fintech company, raised $18m in Series A funding.
The round was led by FinTech Collective, with participation from Entrée Capital and EQT Ventures.
The company intends to use the funds to expand its invite-only beta to a waitlist of 150,000+ freelancers in the United States and to grow its active user base.
Founded in 2019 by a team of serial entrepreneurs and led by Kristofer Sommestad, CEO, aims to enable freelance workers to optimize their working conditions, spend less time on paperwork, and get paid for the work they have done without waiting for their money. Instead of creating invoices and sending them to clients – often waiting 30/60/90 days to get paid – requests are sent and processed in seconds, and funds are available immediately. The client can then pay later at their own terms. Vendor forms and paperwork is automated, and the entire process is compliant with regulatory requirements.
Willa charges a transaction fee (2.9%) per payment request.
The iOS app first launched in late 2020 while a debit card and additional services centered around financial wellness for freelancers are planned later in 2021.