BBVA leads $9m Steady funding round
Written by Chris Lemmon
US FinTech firm Steady has secured $9 million in a Series A funding round, led by Propel Venture Partners – BBVA’s venture capital investment unit.
Steady is an income-building platform for the Build-Your-Own (BYO) workforce, offering income-building opportunities, an income tracker and exclusive discounts. The firm helps workers to find and apply to new opportunities that match their availability, abilities and interests.
There was also significant participation from Omidyar Network, the investment firm established by eBay founder Pierre Omidyar. Other investors include 25Madison, Clocktower Ventures and Commerce Ventures.
“In today’s America, the single, upward career path is a false notion for too many people. A long-term, consistent, path of ascension just isn’t attainable in most industries. People need to create their own,” said Steady co-founder and lead seed round investor Michael Loeb, from Loeb Enterprises. “Steady is uniquely built to address a financial health crisis that’s hitting epidemic proportions.”
Ryan Gilbert, Partner at Propel Venture Partners, added: “We’re excited to back Steady in delivering much needed solutions aimed at the root problem—insufficient earnings. If people are to thrive in today’s changing world, a solution like Steady is imperative.”