TORONTO, Feb. 22, 2021 (GLOBE NEWSWIRE) — Please observe this launch clarifies a press release within the second paragraph from the prior launch issued on February 9, 2021 by Livelii. The corrected launch follows:
Livelii, Canada’s first community-based platform that intersects Insurtech and Fintech to supply inexpensive Well being Insurance coverage and demanding Monetary instruments to Impartial employees is itemizing a securities providing by way of the net crowdfunding platform, FrontFundr. Sunil Sharma, Managing Director, Techstars Toronto, labelled the answer as a “leading edge and much-needed product for Impartial employees, with the group in place to actually make a distinction on this area.”
Livelii — a current graduate of Techstars Toronto — goals to supply inexpensive Well being Insurance coverage and different essential Monetary instruments to the 59 Million Independent Workers which can be at present underserved within the North American market in the present day. Performing as a plan sponsor, the corporate will provide Freelancers and Impartial employees group insurance coverage advantages and monetary merchandise sometimes solely accessible by way of employment relationships and employer-sponsored profit plans. The corporate’s platform connects private life and well being advantages (together with Well being & Dental Insurance coverage Protection) and wealth (Paid Depart Planning, RRSP Contributions) to day-to-day enterprise actions (Estimating, Invoicing, Fee Processing).
With a collection of free and paid instruments that cater to the ebbs-and-flows of impartial work, Livelii contributes 50% of internet earnings earned on paid platform actions on to the taking part member. The Firm sees this as a compelled financial savings mechanism to assist members attain their livelihood objectives.
Because it stands in the present day, the overwhelming majority of Freelancers, Consultants, Contractors, Aspect-hustlers and On-demand gig employees are challenged by a siloed work expertise and restricted entry to inexpensive Insurance coverage & Monetary instruments that acknowledge the distinctiveness of their work. Opposite to full-time employment, their livelihood is dictated on a payment-by-payment, job-by-job foundation versus a hard and fast month-to-month wage. Regardless of the expansion of the Impartial employee trade, which may account for over 50% of the workforce by the top of the last decade, the accessible companies and merchandise have largely left behind these Impartial employees.
“We created Livelii to satisfy the Impartial employee group’s overwhelming demand for inexpensive Insurance coverage & Monetary instruments. Their enter and help for our companies have been, and continues to be, integral to our mission,” mentioned Anya Switzer, CEO of Livelii. “We’re grateful for the group’s confidence in our group’s experience and skill, which positions us to increase our companies throughout the nation and in the end strengthens our aggressive benefit.”
The security offering on FrontFundr permits accredited and retail traders a possibility to put money into Livelii in alternate for fairness within the firm. With the full purpose met, traders would maintain about 14% of the corporate’s fairness.
Funds from this crowdfunding marketing campaign will bolster extra development, permit the corporate to give attention to enhancing its core proprietary expertise and make the platform accessible to Freelancers and Impartial employees all through Canada.
Extra details about Livelii and how one can take part as an investor could be discovered at: https://www.frontfundr.com/livelii.
Particulars of the providing could be discovered within the Providing Memorandum at FrontFundr.com. This communication is for informational functions solely.
Livelii helps Impartial employees entry and fund a first-of-its-kind group Well being & Dental Insurance coverage plan, save for paid depart and put aside for retirement by allocating funds from their funds. They interact members in proactive planning and supply end-to-end enterprise companies from estimates and invoices to fee assortment and automate financial savings to assist them attain their livelihood objectives.
FrontFundr is Canada’s main on-line non-public markets investing platform and an exempt market supplier. It supplies startups and development firms entry to capital, and provides traders entry to non-public firms they imagine in and need to help. It supplies a group of over 20,000 traders with the flexibility to assessment and full non-public placements on one digital platform. The corporate’s revolutionary expertise permits customers throughout Canada to put money into revolutionary development companies in beneath 12 minutes, ranging from as little as $250. To this point it has helped greater than 50 firms increase over $50 million.
CORRECTION: this media launch supersedes the Feb. 9, 2021 model of this communication.
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