Wagestream Funding News- British FinTech Startup Wagestream Raises €352Mn Debt Funding

Launched in late 2024, Wagestream's Workplace Loans have already helped thousands of borrowers. With this new funding, Wagestream can expand the loan offering to more UK members and keep improving the product.

The loans are customized to each person's needs and repaid through payroll deductions. They are designed to fit different income schedules, not just a single monthly payday.

There are no fees, with clear terms, helping employees make informed choices to strengthen their financial wellbeing. Loan rates start as low as 5.9% APR, with the average APR ranging from 13.9% to 16.9%.

Wagestream provides financial tools to over three million people through more than 2,000 brands. It helps employees make smarter money choices—like when they get paid, how they budget, track spending, save, and get financial coaching. Each month, the platform handles over 10 million transactions and processes more than £2.5 billion in payments.

Portman Wills, Wagestream co-founder, comments:

“In just a short period, we’ve seen significant uptake and positive feedback from our members benefiting from fair, accessible credit.

This credit facility will allow us to scale our offering dramatically, reaching more employees, with an alternative to the high-interest loans offered by traditional financial institutions.”

The company has already raised over £208 million from investors like Better Society Capital, Social Tech Trust, Fair By Design, Balderton Capital, Northzone, QED, Smash Capital, BlackRock, and the British Business Bank.

About Wagstream

Wagestream is a financial wellness platform designed for frontline workers. It gives them helpful tools like on-demand pay, flexible pay options, and budgeting support. The goal is to help employees take control of their money whether it’s getting paid when they need it, saving, budgeting, or getting financial advice.