Fiverr Raises $60M, Removes $5 Minimum Charge

November 12, 2015 | Fiverr has raised $60 million to “aggressively attract the vast majority of freelancers who still operate offline,” the company said. Founded in 2010 by CEO Micha Kaufman and Shai Wininger, the Tel Aviv-based company has developed a marketplace where freelancers can advertise their skills and services, such as web design, writing, or marketing, each of which had a fixed price of $5 – until today. Now freelances will be able to set their own prices and Fiverr will instigate a new tiered pricing model, designed to enable sellers to pocket more cash and buyers to purchase large ticket items. The latest fundraising round was led by Square Peg Capital, with participation from existing investors Bessemer Venture Partners, Accel Partners, and Qumra Capital, and takes Fiverr’s total funding past the $110 million mark.