Wagestream, a UK-based fintech, introduced on Tuesday it has secured £20 million by means of its Sequence B funding spherical, which was led by Northzone with participation from Balderton Capital, QED Buyers, LocalGlobe, Truthful By Design, Jigsaw VC, and Village World.
Based in 2018, Wagestream explains it provides clients’ workers the “power” to stream their earned wages into their accounts each time they want it by means of an instantaneous app.
“Our growing list of Wagestream partners are seeing up to a 40% increase in staff retention, 10% increase in employee productivity and a huge competitive recruitment advantage – as much as a 10X increase in job applicants by offering flexible daily pay to employees.”
Wagestream additional famous that by giving your workforce the monetary freedom they deserve, it’s confirmed to make a big, constructive influence on employees retention and productiveness within the office. Peter Briffett, Wagestreem Co-Founder and CEO, additionally acknowledged:
“The way people get paid is changing. Income streaming is a fast-growing alternative to the antiquated monthly pay cycle. Each day, too many staff in too many companies are being forced into the hands of predatory payday lenders because they are only paid their earnings once every 30 days.”
Wagestream famous that the funding will assist its mission to place each worker throughout the globe on the trail to monetary resilience.