We are pleased to announce the arrival of Giggle Finance, Inc. on the Percent platform. As part of a new partnership between Giggle and Percent, the Miami-based fintech platform joins our private capital markets platform’s growing roster of tech-enabled providers, all sharing Percent’s unique vision of making the world of private capital markets more open and equitable.
Founded in 2020, Giggle provides revenue-based financing to the “gig economy” across the U.S including rideshare platform providers, creators, freelancers, and micro-small businesses. Gig economy workers represent a sizable portion of the American labor force due to the growth of third-party platforms that utilize them. Thanks to the increased use of these services and platforms, along with growing opportunities for gig workers, this segment is viewed by analysts as one with continued growth potential.
Leveraging machine learning and aggregating bank statement data, Giggle has managed to develop a custom risk model and decision engine catered to its core customers, while reducing frictions associated with funding, payment processing, and application decisioning.
By establishing key partnerships (including with Percent), as well as structuring their underwriting and risk models for scalability, Giggle is in a prime position to grow their customer portfolio.
In the coming days, Percent investors will be able to invest in notes backed by Giggle’s portfolio, giving thousands of investors access to this key asset class. As the latest partner to join the Percent platform, Giggle will make use of our extensive Borrower suite, gaining access to flexible, low cost of capital from an accredited investor network.