OCN Secures Funding to Enhance Financial Access for Gig Workers

OCN, a fintech company dedicated to providing financial services to gig workers across the Americas, has secured US$86 million (MX$1.5 billion) in new funding through Mexican firm Hefesto Asesores and US Legal Scale. This capital injection will drive OCN's growth and expansion plans.

OCN uses advanced technology to underwrite customers often excluded from the formal financial system in Latin America and the United States. With over 4 million gig economy entrepreneurs serving major ride-hailing and delivery platforms such as Uber, DiDi, and Lyft, access to financing remains a critical challenge. OCN aims to provide these workers with the financial support needed to enhance their earnings and improve their quality of life.

“Access to credit and good financial services is a major problem for gig workers globally. Having backed OCN since before launch, I am excited that they will be able to bring their solutions to millions of gig workers across the Americas,” said Ivan Montoya, Managing Partner, NuMundo Ventures.

The US$86 million funding round includes continued participation from lead investors Caravela Capital, Collide Capital, and Great North Ventures, as well as new financing from US-based investment firm i80 Group. This strong endorsement highlights OCN's proven business model and track record. The company aims to transform into a comprehensive financial technology platform, offering a diversified suite of innovative financial products and services designed to empower the gig workforce and promote financial inclusion.

“When we founded OCN, we envisioned helping thousands of gig workers earn more and improve their lives,” said Mairon Sandoval, CEO and co-founder, OCN. “With our new financing, we can continue to improve our technology and operational capacity to reach more gig economy workers in Latin America and the United States.”