Hastee, a London, UK-based provider of a financial wellbeing solution that gives workers immediate access to their earned pay, raised £208m in funding.
The round was led by Umbra Capital with participation from IDC Ventures and others.
The company intends to use the funds for the development and growth of its solution and business.
Led by Founder & CEO James Herbert, Hastee provides a benefit which allows employees to receive their earned pay immediately via a mobile app. Workers can choose to receive up to 50% of their gross pay for the work they have completed while companies may choose to restrict the availability for their staff to below 50% should they wish/need.
Workers using Hastee receive their first withdrawal every month, up to £100, free of charge and further withdrawals are subject to a small, fair transaction fee of just 2.5%.
Customers include London City Airport, IRIS, Avery Care Homes, and Mitchells & Butlers, one of the largest operators of restaurants, pubs and bars in the UK with brands including All Bar One, O’Neill’s and Harvester.