Fintech CEO targets unicorn status and beyond for freelance-focused app Wedo

US-born, and now based in Lenzie, Indiana (Indy) Gregg is the founder and CEO of Wedo, a mobile device app for multiple devices billed to offer chat, video payments and billing in one business development platform, letting freelancers, concert workers and small business owners connect to, send and receive payments and find new business.

It marks the fifth start-up of the businesswoman, who also includes being a singer-songwriter on her CV, and explains that she has extensive experience in consulting, construction technology and raising capital for other “impactful” start-ups.

She also says that she herself as a freelancer and gaming job understands the pain points and barriers that face everyone who starts a business, takes up a side pressure or strikes on their own, and she believes technology can help level the playing field.

In addition, she sees a huge potential customer base for Wedo, citing studies that estimate that freelancers add $ 42.9 trillion (£ 35.7 billion) to the global economy and estimate that more than half of the global workforce will work on it. way by 2027 – but she thinks they have not been served properly by the products on the market.

The CEO explains that Wedo is an application for neobank services, with very similar aspects as Revolut, Monzo or Starling Bank, but which includes social networks, team building and community building. “The whole idea behind the app is to create a future of work that can really change people’s lives.”

Ms Gregg started the venture in 2020, and formed a team in June of the same year, started it up for about a year and then raised around $ 3 million in capital last year from angel investors and a venture capitalist.

The Fintech chief said the startup is in its seed round, raising $ 8 million in $ 2 million tranches, and is looking at a listed issue, aiming to become a “unicorn” – a technology company whose value has exceeded 1 billion dollars – and even a “decacorn”, valued at more than 10 billion dollars.

Wedo now has 20 full-time employees and about half a dozen part-time employees, and the app has been downloaded by 37,000 users globally, has fulfilled regulatory obligations in the UK, USA and Europe. It will be officially launched in the UK in September and will be open over the summer for early bird testing.

By the end of next year, Gregg will have 500,000 users. “We are raising money right now to give us 18 to 24 months of runway. We are looking forward to the first quarter of next year to hopefully start scaling.”

She emphasizes that having a positive impact on society is her highest priority. “For me, technology has an impact, the potential to really improve people’s lives in enormous ways … it has always been a central part of my life.”

Instead of the bottom line, Wedo is really more about how many people we can serve, how well we can do it, and how we can take advantage of more of them, because I think what’s really missing right now are enough companies that care and I think that’s the only thing we are all united in this company, ”she added.