British Patient Capital, a BBB company, has invested £7 million in Wagestream. Northzone and Lombard Odier Investment Managers have also contributed to the funding.

Established in 2018, Wagestream collaborates with 1000 businesses throughout the US, UK, and Spain to empower three million individuals, primarily shift and frontline workers, to view an interactive payslip, select when to get payment, put money down for a rainy day, reduce expenses on bills, and receive debt guidance. Asda, Bupa, Burger King, Hilton, and the NHS are among the companies that presently provide the service to their staff members.

With the additional funds, the business plans to broaden its offerings and develop into a "full financial platform" for low- and middle-class laborers.

Due to the recent acquisition of startup Keebo, which leverages Open Banking data to accept consumers based on their broader financial behavior - instead of just their credit score - this year will see the arrival of a credit-builder card. Loans, AI-powered financial advice, and shopping discounts are all in the works.

"We believe frontline workers deserve essential services and better financial futures," says Wagestream CEO Peter Briffett. Over a thousand employers concur. With a platform that supports people at every stage of their financial journey—from debt repayment to first-time saving, credit file building, and future planning—we are bridging the gap together."