Wagestream: against COVID-19 Company
Entity: Wagestream
Category: FinTech and Digital Economy
Description: Wagestream is a financial services firm that allows employees to stream their earned wages into their accounts whenever they need it through a simple, instant app. It allows them to have complete control over when they get paid. It also effectively ends the need for employee advances, loans and employee stress suffered from short term, unplanned financial obligations. The company aims to play a key role in reducing the poverty premium and prevent employees from entering cycles of debt caused by overdraft fees, high-interest credit or payday loans. Wagestream was founded in 2018 and is based in London.
Project: Wagestream easing financial stress
Summary: In a commitment to aid the containment of Covid-19 and help organisations support those affected, Wagestream is releasing a number of features designed to ease financial stress and the mobilisation of contingency plans during the outbreak. Through the Wagestream app and direct notifications, an user can now communicate swiftly and effectively with staff on any coronavirus related issues, contingency plans or company policies and keep staff updated in real-time. Through Wagestream's open banking feature, the employees can also receive any crucial information from their bank related to their accounts to easily mitigate any changes that may occur. Wagestream monitors banking information and keeps colleagues informed and updated on information related to their current account, and other relevant financial information. The functionality is now available on the Wagestream portal and aims to facilitate communication and reduce any financial stress caused by the outbreak. If you have any questions you can contact a Client Success Manager.
+ Investors:
QED Investors
Fair by Design Fund
London Co-Investment Fund
Village Global
