2021, Gigapayrevenue increased by 180% in Sweden’s international payment system for the creator economy. The following year, the company continued its good run with another 170% growth. As a result, the company is now announcing a major reorientation of its services.
To make it easier and faster to pay creators, regardless of whether they have a company or not, the company cements itself by automating creator onboarding. Provides an accounts payable solution for the economy. A fully automated solution for businesses that require creators to be paid compliantly.
Gigapay achieved a staggering 170% growth in total revenue in 2022, totaling over SEK 51 million. Additionally, he has expanded his service offering from his two markets to over 50 over the past six months.
2022 has looked like a great year for Gigapay, but the next three years are projected to be even better. With a market size of $104 billion in 2022, the creator economy is expected to more than double his value by 2024. With Gigapay’s new focus and increased service offerings, Gigapay is well-positioned to quickly gain market share for payments in the growing creator economy.
laiha buchananGigapay’s CEO believes an automated accounts payable solution is essential to the creator economy. she said: influencer marketing It is expected to spend nearly €1 trillion on digital marketing by 2030. However, I am concerned that many businesses are still manually processing thousands of invoices. This leads to increased wastage of time and resources.
Avoid wasting resources
To address this issue, Gigapay offers a comprehensive solution that can greatly streamline the payment process for businesses. Buchanan explains: This feature helps businesses save a lot of time and reduce workloads from weeks to just minutes.
Buchanan also emphasizes that the payment process on the creator side is simple and efficient. “It takes her less than 90 seconds to onboard and get paid, and sometimes less than 10 seconds every time after that,” she says. This speed and ease of use will greatly benefit creators looking to monetize their content in her economy.
Maintaining compliance
Finally, Buchanan emphasizes that the payment process offered by Gigapay is fully compliant with regulations. “The best part is that the process is completely compliant end-to-end,” she points out. This level of compliance ensures that both businesses and creators can trust the payment system and have a safe and reliable solution.
Gigapay is available to businesses of all sizes and is designed to meet the unique needs of the creator economy. “We have received interest from distributors, marketplaces and brands across Europe,” says Buchanan.
“Many brands are shifting their marketing budgets to collaborating with influencers. Most people are unhappy with the current payment process and want more scalable solutions. We are looking for a better way, and we are happy to serve this market.” Gigapay’s platform is already trusted by companies such as: Nelly, Inca (Group M), cure mediaand addressco.
The company plans to continue expanding its service into new markets in the coming months and release new features to further improve the user experience. “We will continue to explore new markets in 2023,” says Buchanan. This will be key to achieving our goal of becoming the market leader in Europe. “
Francis Bignell