Wagestream closes a £15m funding round co-led by Balderton and Northzone as part of a £40m total raise.
The financing round was co-led by Balderton and Northzone, bringing the company's total funding to £40m.
Wagestream provides a financial service that enables employees to access their earned wages in real time.
Flexible wage application Wagestream has secured £15m in new funding as part of a total raise of £40m. The latest financing round was co-led by venture capital firms Balderton and Northzone, with additional backing from existing investors including QED Investors, the Joseph Rowntree Foundation, London Co-investment Fund, and Village Global, alongside a debt facility from Shawbrook Bank. The capital will support the continued expansion of the platform as it seeks to eliminate the financial strain caused by traditional monthly pay cycles.
From the founder
"The feedback we are getting from private companies and public sector customers alike is that staff are happier, more productive and have greater financial security once they start using our service."
Peter Briffett
Co-founder at Wagestream
Investor perspective
"We are extremely proud of our investment in Wagestream. As its co-founding investor, we’ve worked closely with management since its inception, helping Wagestream grow from a seed-stage start-up into the dominant player in the space."
Nigel Morris
Co-Founder and Managing Partner, QED
Investors
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About the company
Wagestream
Wagestream operates a service allowing workers to access their monthly wages in real time.