Wagestream, a London, UK-based provider of a financial benefits platform, raised further £17.5M in funding.
Backers included British Patient Capital, Lombard Odier Investment Managers, and existing investor Northzone.
The company intends to use the funds to expand that range of services to become a ‘complete financial platform’ for low and middle-income workers.
Led by Peter Briffett, CEO, Wagestream is a provider of a financial benefits platform offered through 1,000 employers in the U.K., Spain and United States. The system already allows 3 million people – mainly shift and frontline workers – to access an interactive payslip, choose when they get paid, save directly from their pay, save money on bills and get free debt advice.
New services this year will include a credit-builder card for those previously denied access to credit, shopping discounts for those impacted by soaring inflation, AI-powered coaching for those priced out of the financial advice sector, and loans for those previously overcharged by credit providers.
Employers – like Asda, Bupa, Burger King, Pizza Express and the NHS – offer financial benefits through the platform.
FinSMEs
17/04/2024