Task2Bid: The Go To Platform For Gig Workers
Welcome back to an all-new Head’s Up. This week, we speak to the co-founders of Task2Bid, a platform that enables users to hire gig workers to make their tasks easier. Users can also register themselves as gig workers on the platform and with the variety of services onboard, there’s something for everyone.
Since its establishment, the startup is well on its way to greater heights and is now looking to scale higher grounds through investments. But just before you go ahead to read our conversation with the co-founders, here are some events to look out for.
Events
FWD x 1337 Ventures Alpha Startups Pre-Accelerator for Insurtech - Cohort 3
What's in it for participants:
1. The top 2 teams will receive an investment of RM150K funding each
2. Mentoring
3. Office hours with regulators, industry leaders, corporates & networking with angel investors
4. Digital perks such as AWS cloud credits, co-working space, airtable credits etcc
Programme info: https://fwdstartupstudio.com/pre-accelerator
To register: https://fwdstartupstudio.com/application
The Accelerator begins in early April 2022. Registration closes on 27 March 2022.
Islamic Fintech: Disruptive Opportunities in the Malaysian Market
A virtual session to connect aspiring entrepreneurs to leading industry players and learn about the opportunities in the Islamic Fintech industry while exploring the latest innovation in the sector.
Date/time: 9 February 2022, 2PM - 4PM
Presenters:
FWD: Desmond / Ze Han
INCEIF: Dr. Kinan Salim, Lead i-Connect Fintech in Islamic Finance at INCEIF
Masryef: Nurul Awfa, Shariah Officer at Masryef
Bank Islam: Zahrain Zulkifli, Strategic Management Division at Bank Islam
Event Agenda:
Introduction to FWD Startup Studio by FWD representative
2:00pm - 2:40pm: Dr. Kinan Salim, Lead i-Connect Fintech in Islamic Finance and at INCEIF
2:40pm - 3:20pm: Nurul Awfa, Shariah Officer at Masryef
3:20pm - 4:00pm: Zahrain Zulkifli, Strategic Management Division at Bank Islam
This session is a joint event by FWD Startup Studio and 1337 Ventures to catalyse the Insurtech and Fintech scene in Malaysia. Through this short webinar, participants will be able to learn how they can leverage off FWD Startup Studio’s programmes, partnerships, and investment to kickstart their journey of launching a Insurtech and Fintech startup in Malaysia. Interested to learn more? Join us on the 9th of February!
For more information, click here
Task2Bid: The Go To Platform For Gig Workers
In a rapidly changing world, it is only right for us to acknowledge the changes and adapt accordingly. Independent work or more commonly referred to as gig jobs in the current climate has picked up steam and is gradually gaining traction among Malaysians.
According to a media report by The Star, there are close to four million freelance workers in Malaysia and the number is increasing by the day. Gig economy has also been identified as a new source of economic growth and this has been highlighted in the 12th Malaysia Plan 2021-2025.
Playing a role in contributing to the growing gig landscape, Task2Bid is a startup that covers all tasks from basic cleaning, simple house renovations, photography, furniture assembly and even complex web designing.
To date, Task2Bid has engaged with more than 18,000 gig workers and more than 5,000 satisfied customers. This growth was backed by the rapid rise within the first six months of launching and saw operations grow tenfold during the lockdown period.
Currently, Task2Bid has an active number of 20,000 users, with an equal number of attractions from partners collaborating with the platform. In efforts to expand its outreach, the startup has participated in the eRezeki programme under the Malaysia Digital Economic Corporation (MDEC).
The programme enables the rakyat, especially those among the low-income groups, to generate additional income by completing gig tasks, both remote and on-site tasks via an online crowdsourcing platform. Participants will be matched with digital work in line with their respective skills. Task2Bid is one of the approved platforms that can officially participate in the eRezeki programme.
Going Beyond Borders
The startup is well on its way to achieve greater expansion this year by kickstarting its unique marketing profit sharing collaboration with leading platform providers. This is done by integrating the Task2Bid web API to the partner platform, which allows the partner platforms to quickly have all services under one roof without driving out any of their users.
This will also be a significant game changer as collaborating with popular lifestyle applications will allow the partner user base who equipped with the proper awareness will eventually build trust and traction towards Task2Bid.This will also be a significant game changer as collaborating with popular lifestyle applications will allow its current user base equipped with the right awareness and eventually build trust and traction towards Task2Bid.
Furthermore, the platform is looking towards venturing into Indonesia and eventually use the market presence there to penetrate the rest of the Southeast Asia market.
Investing In Task2Bid
According to the founders, Task2Bid has completed all business viability tests with good adaptation feedback from the platform’s current userbase. Now, as part of their expansion plans, they require more comprehensive talent to be part of the Task2Bid success story.
To materialise a bigger success, the platform is looking towards capturing bigger market share through marketing, collaboration and having the right talent onboard, making these aspirations as part of their fundraising goals.
By investing in Task2Bid, investors can benefit from the 6% dividend, more than the normal FD and can convert into Ordinary Shares which the founders believe will worth 4.5 times more. Within a year, Task2Bid’s valuation has increased from RM14 million since April 23, 2021 to RM23 Million to date. The valuation was carried out by the online valuation platform, Equidam and has been verified by MDEC.
In addition to access to investor club rewards, investors are also privy to get an unlimited RM10 cash discount in voucher code from every task they assign on the platform. Investors can also get an unlimited 5% discount voucher code for every task they assign on Task2Bid and to top this off, the platform will free consultancy in selecting the best Doer to complete the tasks.
So why wait, take this opportunity to invest in Task2Bid. For more information, click here.
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