Rodeo has reportedly raised $5 million for its “operating system for gig economy workers.”
The London-based company was founded in 2021 and its app has been used by more than 9,000 gig workers, UKTN reported Thursday (April 6).
The firm will use the new funding to reach more of the estimated 7.25 million gig workers based in the United Kingdom, according to the report.
Rodeo did not immediately reply to PYMNTS’ request for comment.
“Many of our users like the independence and flexibility that gig work provides,” Rodeo Co-founder and CEO Alfie Pearce-Higgins said in the report. “But for this to be sustainable, we believe gig workers need greater visibility of their work so that they can make informed choices and manage their finances. Rodeo helps to solve these problems.”
Rodeo helps drivers optimize their earnings from Uber Eats, Deliveroo, Stuart, Just Eat and other gig economy platforms, according to a Thursday blog post by Emma Ruth Phillips, investment partner at LocalGlobe, the firm that led Rodeo’s seed round.
The app provides these drivers with insights into how their pay is calculated and which platforms, days of the week and pickup locations enable them to generate the highest income, according to the post.
It also provides a chat feature that allows users to communicate with each other, the post said.
“Whilst supporting delivery drivers to earn more income, Rodeo is creating a single operating system for gig workers, where they will be able to see all available work opportunities, and be offered specialized financial products and other services,” Phillips said in the post.
As PYMNTS reported Feb. 26, a steady stream of aggregator-supermarket tie-ups has given consumers in the U.K. access to convenient, on-demand grocery delivery.
Major supermarket chains in the U.K. have partnered with aggregators like Just Eat, Deliveroo and Uber Eats to hold a share of the quick-commerce market without having to build and maintain a distribution network of their own.
On March 22, it was reported that Just Eat Takeaway is reorganizing its delivery operation by cutting 1,700 driver jobs in the U.K. and replacing them with gig workers.
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