With Covid erasing job openings and stretching unemployment numbers, 2020 saw an uptick in freelancers and gig grabbers. In 2021, this trend is continuing, with ‘self-employed’ taking up more space in CVs, and freelancers getting more spots among hirees.
In late 2020, 90% of companies surveyed said they see a future advantage in shifting their talent model to containing a blend of both full-time and freelance employees, according to research by Harvard Business School and BCG’s Henderson Institute.
Talent platforms are getting more traction as well. Fiverr’s Q1 revenue this year was $68.3 million — a 100% year over year growth. Its competitor Upwork also saw an increase. Its revenue for Q1 was $114 million — a rise of 41% compared to the same quarter last year.
Aiming to capitalize on this budding segment is Lili, a challenger bank for freelancers. Having launched in January 2020, the company is still pretty young. But its growth is there — it recently passed 200,000 users. Last week, it raised $55 million in a Series B funding round.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account