In this week’s Startup Showcase, we’re shining a spotlight on Wagestream, a London-based financial services startup with a mission to empower employees by providing them complete control over their earned wages. Wagestream is redefining how employees manage their finances, eliminating the need for employee advances, loans, and the stress that comes with short-term financial obligations.
Empowering Employees with Wagestream
Founded in 2018 by Peter Briffett and Portman Wills, Wagestream is based on the simple but powerful idea that employees should have the ability to access their earned wages whenever they need to. With Wagestream, employees can stream their earned wages directly into their bank accounts through an instant app, giving them complete control over when they get paid.
The Wagestream app offers a seamless user experience and integrates easily with any payroll system. Through the app, employees can see how much they have earned in real-time, and with just a few clicks, they can transfer their earned wages directly into their bank accounts.
Ending the Cycle of Debt
Wagestream is committed to playing a key role in reducing the poverty premium and preventing employees from entering cycles of debt caused by overdraft fees, high-interest credit, or payday loans. By allowing employees to access their earned wages whenever they need to, Wagestream effectively ends the need for these types of financial products.
Wagestream also offers financial education and budgeting tools to help employees manage their finances more effectively. The company believes that by empowering employees with the tools they need to manage their finances, it can help to reduce stress and improve overall financial wellbeing.
Backed by Prominent Investors
Wagestream has already gained significant momentum, with backing from a number of prominent investors, including QED, Fair by Design, London Co-Investment Fund, and Village Global. The company has also received recognition for its innovative approach to financial services, winning awards such as the Innovate Finance Pitch360 and the Banking Technology Awards’ Best FinTech Partnership.
Website: https://wagestream.com
Twitter: https://twitter.com/wagestream
Facebook: https://www.facebook.com/wagestream/
LinkedIn: https://www.linkedin.com/company/wagestream/
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