Wagestream, a financial well-being app focused on frontline workers, was able to raise investment funds for 17.5 million pounds (about $21.8 million) as part of the financing round.
The mentioned amount includes, among other things, 7 million pounds from British Patient Capital. In this case, Lombard Odier and Northzone became co-investors. The relevant information is contained in a press release from British Patient Capital.
Wagestream co-founder and CEO Peter Briffett stated that frontline workers should deserve basic services and a better financial future. According to the head of the company, more than 1,000 employers agree with the mentioned statement. Peter Briffett also noted that the Wagestream platform assists consumers in any sector of the financial sphere, including in solving tasks such as paying off debts, saving for the first time, building a credit file, and planning for the future.
The mentioned company was founded in 2018. Currently, more than 1,000 employers in the United Kingdom, Spain, and the United States are users of the Wagestream platform. Among the most well-known consumers of services are Asda, Bupa, Burger King, Hilton, and the National Health Service.
Wagestream solutions allow 3 million employees to have access to an interactive pay slip, choose the time to receive a salary, save, and receive debt advice.
The company intends to use the new financing to expand its services. Currently, the firm is striving to become a full-fledged financial platform. This year, the company intends to add a credit builder card, shopping discounts, loans, and financial coaching based on artificial intelligence to the list of its services.
As we have reported earlier, Coro Raises $100 Million.
