Wingspan

Wingspan

Platform for freelancers' business management

About Wingspan

Simplify's Rating
Why Wingspan is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Rating Differentiation

Industries

Fintech

Healthcare

Legal

Company Size

51-200

Company Stage

Series A

Total Funding

$17M

Headquarters

New York City, New York

Founded

2019

Overview

Wingspan provides a platform that simplifies business operations for freelancers and self-employed individuals. The platform includes tools for invoicing, expense management, and tax handling, along with customizable templates for contracts and proposals to help maintain professionalism. A key feature is the Pro plan, which offers access to a Care Advocate to assist users with healthcare options and provides custom insurance and benefits packages, similar to those available to employees of larger companies. Wingspan operates on a subscription model, starting at $20 per month, and partners with agencies to manage payments and compliance for 1099 contractors. The goal of Wingspan is to streamline the administrative tasks of freelancers, allowing them to focus more on their work.

Simplify Jobs

Simplify's Take

What believers are saying

  • Increased demand for freelancer management platforms post-pandemic boosts Wingspan's market potential.
  • Growing interest in subscription models aligns with Wingspan's revenue strategy.
  • Partnerships with insurance providers enhance Wingspan's offerings in the benefits space.

What critics are saying

  • Increased competition from fintech platforms like Lili and Found challenges Wingspan's market share.
  • Potential regulatory scrutiny on gig economy could impact Wingspan's business model.
  • Cybersecurity threats targeting fintech platforms could compromise user data and trust.

What makes Wingspan unique

  • Wingspan offers a unique Pro plan with a Care Advocate for healthcare navigation.
  • The platform provides customizable templates for contracts and proposals, enhancing professionalism.
  • Wingspan partners with agencies to handle payments and compliance for 1099 contractors.

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Funding

Total Funding

$17M

Meets

Industry Average

Funded Over

2 Rounds

Notable Investors:
Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Meet Average

Industry standards

$15M
$8.2M
Discord
$14M
Wingspan
$15M
Canva
$100M
GitHub

Benefits

Flexible Time Off

Stock Options

Home Office Stipend

401(k) Company Match

Wellness Program

Growth & Insights and Company News

Headcount

6 month growth

-3%

1 year growth

3%

2 year growth

2%
PYMNTS
Mar 1st, 2024
Platforms Pave Way For Gig Workers Forging New Paths To Financial Independence

The rise of the gig economy has transformed work for millions of individuals. From freelance creatives to ridesharing drivers, gig workers are pursuing financial independence on their terms, redefining the traditional notions of employment. However, achieving financial security in a flexible work environment can be challenging due to inconsistent income and complicated tax and benefit systems, posing significant hurdles for gig workers today. In this dynamic landscape, traditional financial institutions (FIs) have struggled to keep pace, leaving a void that FinTech firms, platforms and smaller banks are now trying to fill

ExploreBit
Mar 17th, 2023
Wingspan raises USD 14M Series A

Wingspan, the first payroll platform purpose-built for flexible workforces, today announced it has raised a $14 million Series A led by Andreessen Horowitz, bringing its total capital raised to $23.5 million.

Finsmes
Mar 16th, 2023
Wingspan Raises $14M in Series A Funding

Wingspan, a New York-based provider of a payroll platform purpose-built for flexible workforces, raised $14M in Series A funding.

TechCrunch
Mar 16th, 2023
Wingspan Raises $14M For Its All-In-One Payroll Platform For Contractors

In the wake of the pandemic, more and more companies are relying on independent contractors to sustain and grow their businesses — and more people are turning to freelancing. According to a Fiverr poll, 45% of businesses are using more freelancers than before the pandemic. And Fiverr rival Upwork found that 39% of the U.S. workforce, or 60 million Americans, performed freelance work in the past year — a three-percentage-point increase from the year prior.One of the major challenges for companies drawing on the gig economy is managing payroll and benefits. In fact, one survey found that three out of every five gig workers lose earnings because of technical difficulties clocking in or out. Inspired to solve it, Anthony Mironov and Greg Franczyk founded Wingspan, a payroll platform aimed at firms employing mainly freelancers.Mironov came from the finance world, having spent several years as a private equity analyst, associate and consultant

Canadian Underwriter
Apr 1st, 2022
CRU Group partners with Wingspan Networks, Inc.

Pacesetter Claims Service, CIS Group and CRU GROUP, which all serve insurers with outsourced P&C claims and underwriting solutions, are partnering with Wingspan, a software company revolutionizing payments and benefits for enterprises committed to providing better support for critical freelance workers.

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