Wagestream raises £17.5m Series C follow-on funding to expand financial services for workers
The round was backed by British Patient Capital, Lombard Odier Investment Managers, and Northzone to help scale services for frontline employees.
Wagestream provides a financial service that enables employees to access their earned wages in real time.
Wagestream has raised £17.5m in a Series C follow-on funding round to expand its range of financial services for low and middle-income workers. The investment comes from new backers British Patient Capital and Lombard Odier Investment Managers, alongside existing investor Northzone.
The company plans to use the capital to develop new offerings, including a credit-builder card, shopping discounts, AI-powered coaching, and fairer loans. This follows its previous social impact fundraise in 2022 and comes as employers increasingly focus on staff financial wellbeing during the cost of living crisis.
From the founder
"Do frontline workers not deserve choice? Do frontline workers – who keep essential services running in good times and tough times – not deserve a better financial future?"
Peter Briffett
Co-founder at Wagestream
Investor perspective
"Wagestream is growing at a rapid pace, while still delivering on the important social mission at its core – we’ve been impressed by the team’s clear vision and agile execution."
Ian Connatty
Managing Director, Direct & Co-Investment, British Patient Capital
Use of funds
- 01Continue product development
Investors
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About the company
Wagestream
Wagestream operates a service allowing workers to access their monthly wages in real time.