Ualett just cranked the dial on the gig economy with a $150M debt facility from Thiele Capital Management, and the timing couldn’t be sharper. Wilmington isn’t Wall Street, but this Delaware fintech is making liquidity move like it belongs in the big leagues. Founded in 2018, Ualett was built by Dominican entrepreneurs who saw what banks refused to: the 1099 workforce is massive, underserved, and tired of waiting. CEO Ricky Michel Presbot, with COO Wilfredo Vidal and CTO César Cabrera, put weight behind an idea that looks simple on paper, buy tomorrow’s receivables so independent workers can access cash today. No credit scores, no red tape, no apologies.
This isn’t a side hustle fintech. With 400K+ accounts across 49 states, Ualett scaled from 90K drivers in 2022 to processing 19K+ monthly advances in 2025. That’s liquidity hitting daily life at speed. Since launch, the platform has pushed $130M+ in advances, now averaging ~400 transactions a day. The U.S. gig economy alone drives $300B+, and Ualett isn’t just chasing that wave, they’re building the rails for it.
Thiele Capital, led by Alex Thiele, first backed the company in 2022 with a $50M credit line. Fast-forward to 2025 and they’re tripling down with $150M. That’s not charity, it’s conviction. Ualett figured out how to balance volume, risk, and loyalty in a space where most competitors drown in defaults. Real-time integrations with Uber, Lyft, DoorDash, Instacart & Amazon Flex validate earnings instantly. Pair that with RTP via Dwolla, FedNow via Astra, Pave’s analytics, and Insurify’s insurance tools, and you get more than a cash advance app, you get an operating system for gig workers.
Ricky Michel Presbot understood what legacy finance missed: independence isn’t a bug in the labor market, it’s the new OS. And when users drop a 4.9 Trustpilot rating with 97% 5-star reviews, it’s not hype, it’s proof. With CRO Jay Millard, CFO Michael Havraniak, and Product Manager Andrea Martin pushing execution, the team has the muscle to turn this facility into nationwide acceleration. The roadmap is clear: deeper penetration into underserved U.S. regions, new hiring pushes in Colombia & the Dominican Republic, and a pipeline of financial tools built for workers who live by the shift, not the paycheck.
This is what happens when a fintech stops chasing buzzwords and starts engineering infrastructure. Congrats to the Ualett team on securing $150M that fuels not just growth but validation. And respect to Thiele for seeing the gig economy not as a risk to hedge, but as a launchpad worth betting on.
