If you’re in the financial sector, you’ve probably seen the news of the Collective General Catalyst. It’s a very interesting company that’s been doing some amazing things. So, you may want to consider making a small investment in it. However, this is a very competitive market, so it’s important to think about how you’ll go about doing that. In this article, I’ll talk about some of the key components you should keep in mind before you do that.
The Silicon Valley venture fund is stepping in to lead funding for a UK insurtech startup. Collective plans to create products to protect independent workers, such as pensions and public liability insurance. It will do this by combining ground-breaking tech with razor-sharp insurance capabilities freshersweb.com.
Collective has raised more than eight times its seed funding since it was founded, and revenue has grown by more than 250%. It’s currently operating out of London and will expand across Europe with its new investment. One of the startup’s partners is Sound Ventures, a venture capital fund created by actor Ashton Kutcher and Guy Oseary makeeover.
Other investors include Creandum, Integrated, and Prime Movers Labs. They are part of a science-focused investor consortium that is investing in a series of startups that will transform health and well-being. Another is Multiverse, which plans to expand into the US. And there are a number of other UK and European startups backed by the Silicon Valley fund, including Hopin, Packfleet, and Doccla.
Collective is a new online back office platform designed for self-employed workers. With Collective, freelancers can find the support they need to run their business more smoothly. They can also pool resources and access a network of trusted advisors. As a result, Collective helps its members save over $16,000 a year in taxes.
The startup, which has 30 employees, plans to double its headcount. It will also bring its platform to market. Founded by a group of serial entrepreneurs, Collective will address the pain points of running a business.
Among its customers are large British insurer Aviva and asset manager BlackRock. Other startups include Julia Computing, which builds professional software tools for the finance industry, and Mautic, which is working to commercialize open source software.
Aside from providing a platform for freelancers, Collective offers an online community and tailored financial services. For example, its members can create their own business, incorporate it, and get bookkeeping and tax services. These services are available for a monthly fee of $199.
In addition, the startup’s membership has grown four times since it launched last year. Currently, the company’s wait list exceeds 20,000. Since its launch, its revenue has increased by more than 250%.
Collective has received funding from QED Investors, Gradient Ventures, Expa, and nine individual investors. The company plans to use the money to grow and expand. To date, it has raised $20 million in Series A funding from these investors.
Sound Ventures, a venture capital fund founded by Ashton Kutcher, will help support Collective’s mission. It will become a preferred back office partner for businesses of one.