Freela Successfully Closes $1.4M Private Sale Round, Oversubscribed by 10x

Freela is reinventing the gig economy by creating the first DeFi powered, self-governing DAO which matches skilled freelancers to employers through its decentralized platform. As it is commission and intermediary free, Freela removes the barriers between employers and freelancers on a global scale.

May 13, 2021Freela today announced that they have successfully closed their $1.4m private sale round. The Freela team received over $14 million in pledges from some of the most respected investors around, meaning their private sale hard cap of $1.4 million was oversubscribed by 10x. 

Strategic investment partners now on board

The private sale round concluded with Freela selecting some of the most well respected investors within the crypto space. Freela’s strategic investors include principal investor AU21 Capital, alongside Skynet Trading, BSCPad, Polygon, Huobi HECO Chain, Lotus Capital, DAO Capital, Kyros Ventures, Magnus Capital, Titans Ventures, Three M Capital, Owl ventures, Particle XYZ, and Poolz.

“We are thrilled to partner with Freela in their mission to decentralize the freelancing economy. Freela’s unique service procurement model significantly improves upon many of the arbitration and verification mechanisms that currently stunt growth within this booming sector. We believe that the Freela team’s impressive drive combined with their unique business model position them well to lead the independent contracting marketplace.”

-AU21

“While there is an abundance of skilled people within the crypto community there is still an unmet need for a platform that invites cypherpunks to convene and offer professional services. As a solution, Freela is building a blockchain native platform to connect the highly skilled with organizations in need of execution. We are confident in Freela’s vision to disrupt the Freelance economy, while  staying true to the tenets of decentralization.”

-Founder, ParticleXYZ

Overview

Freela is a first of its kind Defi powered and self governing DAO (Decentralized autonomous organization) which acts as a decentralised platform for freelancing transactions. It enables both B2B (Business to Business) and P2P (Peer to Peer) commission-free transactions, while matching skilled workers to global job postings. The model underpinning Freela’s platform rests on an innovative type of professional mediation which ensures the highest quality of work for employers, and the best possible remuneration for the freelancer.

There are a number of platforms which enable employers and freelancers to find each other and transact on jobs. The problem with these existing marketplaces is that they are centralized, meaning reduced security and anonymity for both sides. In addition to this, there are intermediaries at each stage who are eating into employer budgets and freelancer earnings with fees and commissions.

Freela breaks away from this model by focusing on finding the right person, for the right job, at the right price – by creating Polygon-powered (Matic) peer to peer connections. As the platform is fully decentralized, both employers and freelancers are assured of anonymity, privacy and discretion. What’s more, with zero intermediaries, commissions or transaction fees, both parties can be assured that they are seeing full pricing transparency across every job. 

This marks the beginning of a truly free, freelancing era.

What is coming up next for Freela

Following the successful close of their private sale round, the team at Freela will be working on their forthcoming IDO which is set to launch on BSC Pad and Poolz later in May 2021. What’s more, there are plans afoot for more announcements in this space over the coming weeks.

In the meantime, work will continue to prepare an MVP of the platform in June 2021, with initial client onboarding scheduled to kick off in July 2021.

About Freela

Freela breaks down the barriers between employers and freelance talent by providing a decentralized, peer to peer platform which allows transparent, fee-free transactions between parties. Businesses seeking talent, and freelancers able to deliver the work will no longer have to negotiate intermediaries, fee-based admin or project deliverable breakdowns which are still  common across current gig economy marketplaces. 

“We believe that blockchain technology can revolutionize the freelancing market. The Freela team is well-positioned to become an industry leading freelancing platform” 

-Pancho Vanhees, CEO of Skynet Trading.

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