Ping Closed $15M Seed Funding Round

Published on: 11.11.2022
Ping Closed $15M Seed Funding Round

Ping, the first international platform for payments to independent contractors and freelancers, has closed a $15M seed funding round from notable investors including Y-Combinator, Race Capital, BlockTower, Danhua Capital, Signum Capital, and Goat Capital.

The $15M seed funding round closed by Ping, will further advance and broaden its platform so that digital nomads can receive payments in dollars or cryptocurrencies wherever they are, and offramp their wages into local currency in a quick and affordable manner.

Ping Overview

The business, which initially founded to address payment issues in Latin America, is now the recognized global solution for independent contractors, freelancers, and remote workers. Pablo Orlando, a seasoned businessman with at least two successful exits in the consumer and fintech sectors, and the brother-sister duo Mary and Jack Saracco founded Ping on the platform of Latamex, the biggest fiat-to-crypto gateway in Latin America.

Jack brings the tech and engineering side, as a native engineer in the crypto space, and Mary brings the financial background from her time working in the M&A division at UBS Investment Bank and the World Bank.

Management Quote

‘’Ping is the perfect solution for freelancers to get paid and for gig economy platforms like Braintrust, freelancer.com, Upwork to offer to their users,’’ said Pablo Orlando, Co-founder and CEO. “We established a platform that ultimately helps democratize access to higher paid jobs as a result of remote work. Ping enables freelancers and contractors globally to see the possibility of earning in dollars and saving in an account in the USA as the highest possible dream.”

The Ping platform enables any individual, organization or company to instantly create a free international account in US dollars and receive bank transfers – either in their foreign currency or cryptocurrency. Embedded in the platform is Ping’s invoicing system where users can send invoices directly to their employers. Additionally, users can buy and receive cryptocurrencies such as Bitcoin, Ethereum and Litecoin through Ping. It is live in both Android and iOS app stores and has a desktop view.

“Ping’s digital platform is the first of its kind for Latin America, and efficiently remedies ongoing payment issues with a mission to provide financial inclusivity on a global scale,” said Robin Chan, General Partner from Goat Capital. “We pride ourselves on investing in projects led by proven serial entrepreneurs. The funds will assist Ping with its global growth – we will join Ping in its mission to provide an international payment solution for digital nomads.”

They will use the funds toward team expansion, hires for marketing and sales.

About Ping

Founded in 2022, Ping is the first international digital payment solution to simplify global payments. Originally created to combat payment challenges in Latin America, the company is now the official global solution and breaks through the barriers of international payments for remote workers, contractors, and freelancers.

​​Ping allows knowledge workers to access their salaries globally and get paid in their local currency, wherever they are, in both fiat and crypto. This is not just another payment platform, but rather a truly comprehensive service that allows you to save time, reduce costs and obtain greater efficiency.

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SOURCE

https://www.businesswire.com/news/home/20221109005365/en/Ping-Raises-15M-Seed-Round-to-Expand-Payment-Platform-For-Freelancers-and-the-Gig-Economy

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