Wagestream secures £134m Series C funding from Smash Capital and Silicon Valley Bank
The financing comprises equity led by Smash Capital and BlackRock alongside debt from Silicon Valley Bank.
Wagestream provides a financial service that enables employees to access their earned wages in real time.
London based financial wellbeing platform Wagestream has secured £134m in a Series C funding round to expand its services and scale internationally. The investment comprises equity funding led by Smash Capital and BlackRock, alongside debt financing from Silicon Valley Bank, with continued backing from existing shareholders.
The capital will support the company as it takes its charity backed financial services to more workers globally. Wagestream currently serves one million employees across multiple countries through partnerships with corporate employers.
The raise follows a period of accelerated demand for workplace financial health tools. The company plans to use the fresh funds to build out its product set and grow its teams outside the UK market.
Investor perspective
"Financial exclusion and a rising cost of living have created severe financial stress for hard-working people around the world,"
Brad Twohig
Managing Partner, Smash Capital
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
Wagestream
Wagestream operates a service allowing workers to access their monthly wages in real time.