Gig worker Fintech OCN has raised $86 million in Series A funding, which included debt and equity capital, according to a note distributed by the company.
The round was led by Caravela Capital (Brazil), Collide Capital (US), and Great North Ventures (US). i80 Group (US) provided the debt capital.
The company said the new money would be used to expand its services, including in the US.
OCN says that gig workers are often overlooked by traditional financial services firms. The company supports individuals who work for delivery platforms like DiDi and Lyft. The company provides a rental model for ride-share drivers
Mairon Sandoval, CEO and co-founder of OCN, said the funding will help them improve upon their tech stack and operational capacity in Latin America and the US.
Edward Goldstein, Managing Director of i80 Group, said OCN has the discipline and a profitable model they want to support.
“OCN provides critical resources to gig workers, an important and dynamic segment of the economy.”
