INSUBCONTINENT EXCLUSIVE:
Pangea.app, a Providence, Rhode Island-based startup has raised a $400,000 pre-seed round, it told A Technology News Room this week
College students want paid work and resume-building experience, while businesses need help with piece-work that students can help with, like
Today, with colleges and universities closing due to COVID-19, students stuck at home, and many businesses leery about adding new, full-time
staff, Pangea.app could find itself in a market sweet spot.Some students that had work lined up for the summer are now unexpectedly free,
hopes, the firm could see quick growth
According to Alpert the company has seen five figures of contracts flow through its platform to date, and expects to reach a gross
schools have joined in the last three weeks.Pangea.app makes money in two ways, taking a 15% cut of transaction volume and charging some
companies a SaaS fee for access to its best-vetted student workers
stutters and the venture capital world slows, Pangea.app may have picked up capital at a propitious time; raising capital is only going to
get harder as the year continues and it now has enough to operate for a year without generating revenue; it will generate top line, however,
extending its cash cushion.Pangea.app aspires to more than just growth
Alpert told A Technology News Room that it has a number of development-focused hires on the docket for 2020, including a UI/UX designer and
The company also intends to use its own platform to staff up over the summer to help speed up its own development.Being based in Providence,
The company said that it is working to reach break-even profitability before it works on the next part of its business
round was a pre-seed investment, not a seed deal as originally reported
