Insurance and benefits marketplace Collective Benefits has received a US$10m investment from Prosus Ventures, the venture investing arm of Prosus.
Collective Benefits offers insurance and benefits for independent workers across sectors.
This includes sick pay, accident and injury insurance, wellness, financial and education support, as well as a perks marketplace.
The firm says the funding will enable it to expand its suite of products and services for independent workers, as well as continue to expand its presence across Europe, the Middle East and Asia.
Anthony Beilin, CEO and co-founder at Collective Benefits, said: “We’re delighted to welcome Prosus Ventures as an investor.
“They have significant expertise investing in and operating platforms that work with independent workers, and are an ideal partner to set the stage for our next phase of growth.
“With this fresh funding, we’re on our way to realise our vision to create valuable benefits for independent workers.”
Sandeep Bakshi, head of European investments for Prosus Ventures, added: “The pandemic has accelerated the momentum of flexible and independent work.
“Collective Benefits is in a unique position at the forefront of the demand for independent worker benefits. The company’s mission fits well within our investment thesis.
“We see clear opportunities for expansion across the independent economy and we’re excited for what’s to come.”
