Better Ventures Backs Fluid Financial to Enable the Freelancer Economy
We are thrilled to announce our $400,000 seed investment in Fluid Financial, an Oakland, CA-based fintech startup that helps small businesses and freelancers get paid on time. Our investment was part of Fluid's $1M seed round, which closed late last summer and was led by Santa Monica-based Mucker Capital. Fluid fits nicely within our "future of work" investment theme and solves a big pain point for the freelancer economy, which is getting paid promptly and reliably.
Fluid helps small businesses with sustainable financing options via seamless cashflow management underwritten by the credit quality of the payor. Payments are accelerated by an average of 22 days by automating the payment workflow and having clients manage their invoices in one place. We’re excited to be working with Ipsheeta, Julian, and Matt, an experienced and well-rounded team that has been working together for a number of years. CEO Ipsheeta Furtado has almost a decade of experience in the financial sector, Julian Threatt (CTO) is a UC Berkeley alum and serial SaaS entrepreneur, and Chief Product Officer Matt Waite has led product & design teams from early stage through a successful exit. Freelancers now make up 35% of U.S. employees, earning $1 trillion in 2016, and they're projected to dominate the workforce by 2020. Fluid is fueling the growing freelance work economy, enabling more stability by helping workers get paid on time so they can grow their businesses. Please don't hesitate to reach out if you'd like to learn more about Fluid.