Ualett, a financial technology platform that specifically caters to 1099 workers, has officially announced a significant achievement: securing a $150 million debt facility from Thiele Capital Management. This substantial funding injection is set to considerably enhance Ualett’s ability to serve the rapidly expanding gig economy workforce by providing them with accessible and real-time financial tools. This new agreement also highlights the strong and shared vision between both Ualett and Thiele Capital Management regarding sustained, profitable, and responsible growth.
The month of September holds a special significance for Ualett, as it has historically been a time for significant developments within the company. Three years ago, in September, Ualett and Thiele Capital Management first forged their partnership with an initial agreement. This latest milestone not only celebrates that enduring relationship but also reconfirms the powerful synergy and forward-thinking vision that continue to fuel Ualett’s ongoing expansion.
Ualett specializes in offering quick and adaptable cash advances to various independent workers, including rideshare drivers and delivery couriers. What sets Ualett apart is its commitment to providing these services without the need for traditional credit checks, the burden of hidden fees, or the complexities of typical loan structures. The platform utilizes real-time earnings verification, which makes its financial solutions readily available to a segment of the workforce that is often overlooked and underserved by conventional financial institutions.
Through its innovative approach, Ualett is actively closing the gap between gig workers and mainstream financial services. It is creating a reliable and trustworthy path to liquidity and financial stability for a rapidly growing and vital part of the U.S. workforce that has historically lacked adequate financial support.
This newly acquired capital will enable Ualett to accelerate its impressive growth trajectory further. The funds will be strategically utilized to deepen access to funding in currently underserved geographic markets, ensuring that more gig workers can benefit from Ualett’s services. Furthermore, the capital will allow Ualett to broaden its reach to new categories of independent workers as the dynamic gig economy continues to evolve and adapt to changing market conditions.
To commemorate the finalization of this important deal, a celebratory board meeting was recently held at Target Field, the home stadium of the Minnesota Twins. This event not only marked the successful completion of the agreement but also served as a testament to Ualett’s strong momentum and its unwavering dedication to meeting the increasing financial needs of gig workers nationwide.
KEY QUOTES:
“From day one, Ualett’s disciplined approach to serving gig workers stood out to us. We’ve been impressed by the business that Ualett has built over the past three years of our partnership. This new debt facility reflects our confidence in their ability to scale responsibly while continuing to meet the unique financial needs of independent workers across the United States.”
Alex Thiele, CEO at Thiele Capital Management
“This partnership with Thiele Capital isn’t just about capital, it’s about long-term alignment. With this facility, we’re accelerating our ability to reach more workers, offer more products, and reinforce what makes Ualett different: trust, transparency, and technology purpose-built for the gig economy.”
Ricky Michel Presbot, Co-Founder & CEO of Ualett
