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Founded Year

2018

Stage

Debt - II | Alive

Total Raised

$254.51M

Last Raised

$115M | 1 yr ago

About Wagestream

Wagestream operates as an employee financial wellness platform. It allows workers to access earned income at any time during the monthly pay cycle without impacting cash flow, payroll, or timekeeping processes. It was formerly known as Paydays Technology. The company was founded in 2018 and is based in London, United Kingdom.

Headquarters Location

35 Gresse Street

London, England, W1T 1QY,

United Kingdom

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ESPs containing Wagestream

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Enterprise Tech / Enterprise Applications

The payroll software market offers a range of solutions for businesses to manage their payroll, HR, and employee benefits. These solutions aim to simplify the complex task of paying employees while ensuring compliance with tax laws and regulations. The market includes vendors that offer all-in-one HR platforms, earned wage access technology, unified payroll solutions for global companies, and APIs…

Wagestream named as Highflier among 15 other companies, including DailyPay, Gusto, and Rippling.

Wagestream's Products & Differentiators

    Track

    Keep track of earnings, in real-time, throughout the month

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Research containing Wagestream

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Wagestream in 1 CB Insights research brief, most recently on Dec 22, 2020.

Expert Collections containing Wagestream

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Wagestream is included in 4 Expert Collections, including HR Tech.

H

HR Tech

4,159 items

The HR tech collection includes software vendors that enable companies to develop, hire, manage, and pay their workforces. Focus areas include benefits, compensation, engagement, EORs & PEOs, HRIS & HRMS, learning & development, payroll, talent acquisition, and talent management.

F

Fintech

12,438 items

Excludes US-based companies

S

Store tech (In-store retail tech)

387 items

S

Silicon Valley Bank's Fintech Network

88 items

We mapped out some of SVB's biggest clients, partnerships, and sectors that it serves using CB Insights’ business relationship data from SVB’s profile to uncover just how important it is to the fintech universe. The list is not exhaustive.

Latest Wagestream News

Fintechs team up to support nine million at-risk workers, with better sick pay

Aug 29, 2023

External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Fintechs team up to support nine million at-risk workers, with better sick pay 10 minutes ago Source: Wagestream Wagestream, the UK’s fastest-growing fintech-for-good, has teamed up with French insurtech Wakam to launch Enhanced Sick Pay – a new product providing workers with affordable sick pay cover. Now available to more than one million UK workers through employers offering Wagestream, the product is the UK’s first of its kind: income protection specifically designed to meet the needs of frontline workers, who are overlooked and underserved by the UK’s sick pay system. The latest Low Pay Britain report highlighted that UK statutory sick pay ‘offers very little insurance against sickness, particularly when compared to other rich countries’, and is disproportionately unfair on the lowest-income workers: the 1.6million workers who earn less than £123 a week are ineligible for any statutory sick pay at all. A recent study of 2,000 low-income workers found that the vast majority (83%) fear they would need to work through serious illness - because the current legislation means they can’t afford to take sick leave. More than a quarter (28%) of them would be forced to go without heating or eating, if signed off for work for two weeks or more. Workers signed up to Wagestream through their employer will now have a safety net, for their sick pay. They can choose a plan to set aside money directly in the Wagestream app, based on their income level - which will then pay them up to half of their salary for periods of accident and sickness absence lasting over 7 days, and up to 90 days. Enhanced Sick Pay joins a range of other features already in the Wagestream app: workers at the likes of Bupa, Asda, Greene King and the NHS use Wagestream to manage budgeting, choose when to get paid, chat to a money coach, set aside money for a rainy day, save on bills and more - all in one app. Solving the problem aligns with Wakam’s mission-driven approach to insurance, which is built around inclusive insurance products, transparent terms, lower distributor commission rates and a ‘Wakam For Good’ charitable fund - all overseen by a governance board. This ethical focus is a strong fit with Wagestream’s impact framework and fair financial product principles - which are overseen by its Impact Advisory Board. Rob Moore, Director of Insurance at Wagestream comments: “As part of our mission to bring better financial wellbeing to frontline workers, we’re thrilled to partner with Wakam - a trusted insurance provider now in 32 countries, with an ethical approach that helps us put worker wellbeing first. Too many people come under financial stress if they lose their income for even just a week - but with this partnership, we’ll be able to tackle the problem and give employers a valuable new addition to their financial wellbeing toolkit in the process.” Olivier Jaillon, CEO & CPO of Wakam adds: “We are really proud of this partnership with Wagestream, which allows us to further consolidate our presence in the UK. As a mission-driven company, we see our own values reflected in Wagestream’s strong commitment to society. We are excited to be part of this journey.” Related Companies

Wagestream Frequently Asked Questions (FAQ)

  • When was Wagestream founded?

    Wagestream was founded in 2018.

  • Where is Wagestream's headquarters?

    Wagestream's headquarters is located at 35 Gresse Street, London.

  • What is Wagestream's latest funding round?

    Wagestream's latest funding round is Debt - II.

  • How much did Wagestream raise?

    Wagestream raised a total of $254.51M.

  • Who are the investors of Wagestream?

    Investors of Wagestream include Northzone, Balderton Capital, Silicon Valley Bank, BlackRock, Fair By Design and 13 more.

  • Who are Wagestream's competitors?

    Competitors of Wagestream include ZayZoon, Payflow, Immediate, Instant Financial, Paywatch and 12 more.

  • What products does Wagestream offer?

    Wagestream's products include Track and 3 more.

  • Who are Wagestream's customers?

    Customers of Wagestream include Bupa, Roadchef, Casual Dining Group and UK National Health Service (NHS Frimley Trust).

CB Insights
Looking for a leg up on competitive, customer and technology insights?
CB Insights puts confidence and clarity into your most strategic decisions.
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Trusted by the world's smartest companies to:
  • Predict emerging trends
  • See competitors' playbooks
  • Stalk the smart money
  • Identify tomorrow's challengers
  • Spot growing industries
  • Kill analyst data work
Let's see how we can help you!
MicrosoftWalmartWells Fargo

Compare Wagestream to Competitors

PayActiv Logo
PayActiv

PayActiv provides a financial wellness platform. The company offers a suite of services that include banking products, savings and budgeting tools, bill payments, and financial health measurements. It was founded in 2012 and is based in San Jose, California.

EarnIn Logo
EarnIn

EarnIn operates as a financial technology company. It provides a platform that lets customers get paid for their working hours, without charging any interest on the payments that clients receive. The company was formerly as ActiveHours. It was founded in 2012 and is based in Palo Alto, California.

DailyPay Logo
DailyPay

DailyPay provides a payroll management platform. It offers services to employees for paying bills on time and avoiding late fees, helping them reach financial goals. The company allows employees access to manage wages across a wide range of industries, including cleaning, healthcare, retail, transportation, and more. It was formally known as Beach HoldCo. It was founded in 2015 and is based in New York, New York.

Branch Logo
Branch

Branch operates as a business payment acceleration company. It offers digital payouts of tips, wages, and off-cycle payments, earned wage access, fee-free banking, and pay card alternatives. The company was founded in 2015 and is based in Golden Valley, Minnesota.

Paidiem Logo
Paidiem

Paidiem operates as a tech company focusing on providing enterprise SaaS and financial solutions, including earned wage access and working capital solutions, for the contingent workforce ecosystem. The company was founded in 2019 and is based in Toronto, Canada.

Tapcheck Logo
Tapcheck

Tapcheck provides a financial wellness platform for employees that promotes both employee and employer financial well-being. It assists businesses all around the country in promoting financial wellness and improving business success by allowing employees to access earned wages. The company was founded in 2019 and is based in Tarzana, California.

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