Buckle, which provides credit and insurance to ridesharing and delivery drivers, raises $60M Series B led by Volery Capital Partners
Context & Ripple Effects
Buckle has been building the financial-services layer for gig drivers since at least its $31M Series A in August 2020, when it was already writing ridesharing coverage across 47 US states. The new $60M Series B, led by Volery Capital Partners, roughly doubles the capital it has raised to push credit alongside that insurance business.
The raise lands in a market where the driver side of the gig economy is attracting its own dedicated funders: Moove raised $105M to finance vehicles for ride-hailing drivers across six African cities, showing investors treating driver financing as a standalone category rather than a platform afterthought.
First-order effects
- Buckle gains the runway to scale credit and insurance products across its existing 47-state coverage footprint, moving from single-product insurer toward a bundled financial stack for rideshare and delivery drivers.
- Volery Capital Partners takes a lead position in US gig-driver financial services, while HSCM Bermuda and Eos, Buckle's earlier backers, see their 2020 bet validated by a larger follow-on round.
Second-order effects
- Ridesharing and delivery platforms get an external supplier solving driver retention economics — access to credit and coverage makes driving more sustainable as a livelihood without the platforms funding it themselves.
- Other insurers and fintechs targeting gig-worker income streams now compete against a better-capitalized specialist, pressuring them to bundle credit with coverage or cede the driver segment.
Third-order effects
- If the pattern holds — Buckle in the US, Moove in Africa — financial services consolidate into companies attached directly to gig-platform earnings data, with underwriting and lending priced off driver activity rather than traditional credit files.
The trend: The gig economy is spawning a dedicated driver-finance layer, with investors funding specialists who bundle insurance, credit, and vehicle financing around platform earnings data.