UnderPinned is building the infrastructure for the future of freelancing, offering an innovative one-stop solution for freelancers and clients. Founded in late 2018, the app went live in 2020 and has over 2200 users and a cost of acquisition over 7x lower than the industry average.
UnderPinned aims to lay a new foundation for the freelance economy by offering a one-stop solution for freelancers to find work, manage work and get paid, and for clients to manage their project-based workforce. One monthly subscription takes clients from proposal to payment, end-to-end, tackling issues they may face such as recruitment fees, commission, and complex management for project-based work.
The freelance market is notoriously difficult to stand-out in, so behind the tech, we are building a powerful brand and community.
UnderPinned, founded in August 18, has achieved:
- Live launch of the Virtual Office in Jan 2020 with over 2200 users already
- An acquisition model with a CPA 7x lower than the industry average
- Highly-curated content leading to £0.05 cost per click and 5.92% clickthrough rate
- Existing partners include: Starling Bank, Digital Risk, Banked, IPSE.
- Over 110,000 users engaged with our educational media content
The marketing model has been tested across the UK and will be used to scale UnderPinned at the close of this round. The low acquisition cost means we can efficiently target revenue from affiliate partners.
We are targeting an initial audience of 13 million in the UK. Freelancing is one of the fastest-growing ways of working and the opportunity for global expansion is massive; the US alone has 77 million freelancers and growing.