Gigwage
“Can an API-first embedded 1099 payroll platform become the payments and compliance infrastructure layer for every platform that manages gig economy contractors?”
Founded2014
HQDallas, TX, USA
FoundersCraig J. Lewis
Total raised$20.2M
Latest roundSeries A Extension, 2024
IndustryHorizontal SaaS / HR & Payroll
The story
Founded in 2014 as a payroll platform for gig economy workers, Gig Wage initially focused on helping businesses pay 1099 contractors quickly. Over time it evolved into an API-first embedded 1099 payroll infrastructure provider, enabling other platforms to white-label contractor payment and tax compliance into their own products. The company suffered disruption from the 2024 Synapse/Evolve Bank collapse but relaunched with new banking infrastructure and raised a Series A extension, positioning itself as the go-to embedded payroll layer for the 1099 economy.
Last 12 months
Product timeline
2014
Craig J. Lewis founded Gig Wage in Dallas to address payroll and payment needs for 1099 gig workers.· pivot
2021
Raised $13M in Series A funding; gained traction serving gig economy contractors via 1099 payroll platform.· banking
2023
Launched API-first embedded 1099 payroll product enabling platforms to white-label contractor payment and tax filing capabilities.· payroll
2024
Experienced disruption due to Synapse/Evolve Bank debacle; returned funds to customers, rebuilt platform, and relaunched with new features and $8.25M Series A extension.· pivot
The stack
3 layers disclosed in Gigwage’s embedded-finance stack
Money movement
Banking / BaaS
in the full report
Sponsor bank
in the full report
Accounting gap: significant
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.