Freelance platform launches with 20,000 signups and £250m contract

Blockchain-powered freelance marketplace Nodal Labs launches today in the UK with 20,000 people already signed up and a £250m recruitment contract in place.

Initially specialising in creative, visual effects, construction, property and engineering sectors initially, the platform aims to resolve the issues of late payment and unfair scope through its fully automated system of smart contracts.

Ahead of today’s launch Nodal Labs secured a £250m deal with specialist recruitment firm Minstrell, as well as 20,000 user signups from across a range of sectors.

Commenting on the launch, Nodal Labs CEO & founder Oliver Hibbs-Brockway said: We built Nodal to cut wasted time and energy out of the recruitment process, streamlining it to ensure that everyone involved can get on with the job in hand.

“We must put employers and freelancers on an equal footing, to build relationships that start well and flourish - the freelance economy is here to stay.”

The company is planning to enter a Series B investment round later this year to bolster its offering, following the securing of Series A funding last month.

The company has developed the platform alongside architectural design firm Foster & Partners, creative studio Access VFX, and VFX company Union VFX.

Founder of Access VFX Simon Devereux added: “The team at Nodal are solving a real challenge we come up against in our industry that artists secure work based on friendships and networks rather than merit and raw talent.

“We’re excited that this initiative is working to address this imbalance, level the playing field and introduce studios to a wider pool of diverse talent and fresh, exciting perspectives!”