Wollit has secured £1m seed funding.

Spanish bank BBVA joined the funding round for the London FinTech which aims to provide income stability to UK’s 14m freelance and gig-economy workers.

Anthemis, Plug & Play Ventures, Form Ventures, MAHR Projects and angel investors also participated in the round.

Wollit CEO Liad Shababo said: “Wollit is here to establish a new status quo in financial services. We want to make sure everyone has access to financial wellbeing.”

Wollit says its platform is “an income stability tool that enables people to take home the same amount of money each month”.

Ian Ormerod, Global Head of New Digital Businesses at BBVA, said: “Promoting financial health is one of BBVA’s core strategic priorities – alongside sustainability.

“As such we are delighted to be investing both time, experience and funding into Wollit and we look forward to seeing the impact they will make.”

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