Financial wellbeing solutions provider Wagestream has raised a 拢300m debt financing facility provided by Citi.聽
The London-based FinTech鈥檚 solutions are offered to over 3 million people through 2,000+ brands, aiming to help employees make better financial wellbeing decisions, from how and when they get paid, to live tracking, budgeting and coaching services, to enabling better savings habits.聽
The company processes more than 10 million monthly transactions and more than 拢2.5bn in monthly payments on its platform.
This continues the firm鈥檚 strong start to the year after it was included in The Times Tech100 for 2025 and Sifted 100 FinTech Fasted Growing Startups for 2025.
鈥淚n just a short period, we鈥檝e seen significant uptake and positive feedback from our members benefiting from fair, accessible credit,鈥� said Portman Wills, Wagestream co-founder.
鈥淭his 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.鈥�
Launched in late 2024 through an early access program, Wagestream鈥檚 Workplace Loans has already helped the lives of thousands of borrowers.聽
With this facility now in place, Wagestream has the ability to expand the Workplace Loans product offering to its UK member base and continue investing in the product.
The loans are tailored to individual needs, circumstances and repaid through payroll deductions. They are designed with the reality of varied income frequencies, rather than a single, monthly payday.
World-leading impact investors, Better Society Capital, Social Tech Trust and Fair By Design, along with renowned venture investors, including Balderton Capital, Northzone, QED, Smash Capital, BlackRock and British 老九品茶 Bank, have all invested in Wagestream.
News of the debt financing facility comes just over a year after the company raised 拢17.5m as it prepared to take on high street banks.