Ualett Secures $150 Million Debt Facility to Accelerate Growth and Expand Market Reach

Three-year credit line from Thiele Capital Management enables more aggressive go-to-market strategy and broader client base expansion

WILMINGTON, Del.--(BUSINESS WIRE)--Ualett, the leading financial technology platform serving 1099 workers, today announced it has secured a $150 million debt facility from Thiele Capital Management.

The expanded facility significantly strengthens Ualett’s capacity to serve the fast-growing gig economy workforce with accessible, real-time financial tools. It also reflects the strong alignment between both firms around long-term, profitable, and responsible growth.

“From day one, Ualett’s disciplined approach to serving gig workers stood out to us,” said Alex Thiele, CEO at Thiele Capital Management. “We’ve been impressed by the business that Ualett has built over the past three years of our partnership. This new debt facility reflects our confidence in their ability to scale responsibly while continuing to meet the unique financial needs of independent workers across the United States.”

September has always been a month when big things happen at Ualett. Three years ago in September, we signed the very first agreement that marked the beginning of our partnership with Thiele Capital. This new milestone reaffirms the strength and vision that continue to drive our growth.

Ualett provides fast, flexible cash advances to rideshare drivers, delivery couriers, and other independent workers, without credit checks, hidden fees, or traditional loan structures. The platform verifies earnings in real-time, making it accessible to workers often overlooked by traditional financial systems.

By doing so, Ualett is bridging the gap between gig workers and mainstream financial services, creating a trusted pathway to liquidity and financial stability for an underserved, rapidly growing segment of the U.S. workforce.

“This partnership with Thiele Capital isn’t just about capital, it’s about long-term alignment,” said Ricky Michel Presbot, Co-Founder & CEO of Ualett. “With this facility, we’re accelerating our ability to reach more workers, offer more products, and reinforce what makes Ualett different: trust, transparency, and technology purpose-built for the gig economy.”

The new capital will provide Ualett with additional leverage to continue its hypergrowth trajectory by expanding access to funding more deeply into underserved geographic markets, and expand access to new segments of independent workers as this market grows and adapts to changing market dynamics.

A celebratory board meeting marking the finalization of the deal was recently held at Target Field, home of the Minnesota Twins, underscoring Ualett’s momentum and commitment to meeting the growing financial needs of gig workers.

About Ualett

Ualett is a leading financial technology company offering tailored cash advance solutions for gig economy workers, including rideshare drivers, delivery drivers, and small business owners. With over 400,000 users, Ualett is committed to helping independent contractors achieve financial flexibility through personalized, secure financial services that meet their unique needs.