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Wagestream

Bringing employees financial freedom

101-200 employees
  • Fintech
  • B2B
  • Enterprise
  • Personal finance
  • Financial Services
  • SaaS
London (HQ), United Kingdom, 35 Gresse Street, London, W1T 1QY

Company mission

They want every working person globally to have complete financial freedom by giving them power over their pay.

B Corporation
Rocket List 2021
Top investors

37% female employees

50% employee growth in 12 months

Otta's take

Theo Margolius headshot

Theo Margolius

COO of Otta

Fintech has been strong in London for years, but no company has tackled financial wellness head-on with a solution other than content and guidance. At a point where the focus on mental health and wellbeing is becoming more important, Wagestream's mission to improve employee financial resilience is one that resonates

Wagestream's offering is a win-win for employers and employees alike - helping employees avoid short-term cash-flow issues whilst also building their longer term financial resilience through education and incentivised saving. As the only financial wellbeing platform built by charities, it offers a unique approach to the sector.

Wagestream has recently raised significant funding which will be used to consolidate its market share in the U.K. and scale up its presence in new markets such as the U.S.

Benefits

  • Extending power over pay to all working people means our own teams have access to all the tools Wagestream has to offer!
  • Every new Wagestream parent enjoys paid time off and the option to work flexibly around family needs
  • We operate a hybrid working policy, with up to 2 days per week to be spent in our amazing Fitzrovia office
  • Building a company from scratch is hard work. At Wagestream you’re encouraged to take a break to switch off and recharge
  • Enjoy regular team socials (remote and in-person) and our Lunchtime Learning series with in-house specialists and guest speakers
  • Achieve zen with a Calm subscription, sign up to our Cycle-to-Work scheme or unwind with membership to The Wine Society
  • In our small team you are given real opportunities to make a meaningful difference to the lives of workers across the world every day
  • We’re a growing business with big plans looking to build a team who thrive with the freedom to think big

Company values

  • Force for good
  • Raise your hands
  • Impposible isn’t a word
  • Egos Suck

Funding (last 2 of 5 rounds)

Apr 2024

$21.7m

LATE VC

Apr 2022

$60m

SERIES C

$129.4m

Total funding

This company has top investors

Founders

Held C-level roles before where he's built leading brands, e.g. YPlan that sold to Timeout.

Technologist with a gaming background, an interesting angle for getting the psychology right behind financial wellness.

People progressing

Evelyn

Joined as Head of People, being promoted to Chief of Staff after 1 year.

Nick

Joined as Principal Software Engineer, being promoted to Head Of Engineering (Banking & Integrations) after 5 months and twice more to VP of Engineering within just under 2 years.

Diversity & Inclusion at Wagestream

  • The introduction of a weekly “Lunchtime Learning” session has given us a forum to bring challenging conversations into the workplace and this year we’ve had some amazing guest speakers on Diversity & Inclusion, Allyship in the Workplace and Mental Health
  • This has been supported further by the roll-out of Spill - a Slack enabled therapy tool - ensuring the team has extra support if they need it but also there to challenge stigma regarding seeking mental health support
  • New initiatives like these often stem from our monthly “Ask Me Anything”. This anonymous forum keeps us all accountable but in its anonymity, weights all voices equal and means that no question is too difficult to be raised

Endorsements

All

Inspiring mission (5)

Thoughtful onboarding (3)

Meaningful work (2)

Intelligent people (2)

Great work is recognised (2)

Focus on employee wellbeing (2)

Growing fast (2)

Strong leadership (2)

Hard working team (1)

People of all backgrounds are welcomed (1)

The founders are open and honest, always listening to suggestions, they're true entrepreneurs. I really respect their ideas and vision, always a pleasure to hear their passion on company meetings.

People, HR, Recruitment

Strong leadership

Jan 2021

We really are solving an issue worldwide. It's a game-changer, but not only that, but we are determined to stay in front of the curve, with cutting edge tech, and innovative products the genuinely improve the lives of our users!

People, HR, Recruitment

Innovative product

Jan 2021

Increase financial wellness, reduce payday poverty, promote financial independence - worldwide? OK, deal! I love it!

People, HR, Recruitment

Inspiring mission

Jan 2021

A number of thoughtful touches made joining the team as a remote person still make me feel valued and included. A series of sessions with other colleagues to introduce me to different aspects and systems never felt like too much trouble for the people who ran the sessions, despite them being busy themselves, and us growing quickly so there being quite a few new people coming through.

Software Engineering

Thoughtful onboarding

Dec 2020

There is a big push on mental health, with access to the spill app, and other EAP services. There is also a great positive vibe.

Software Engineering

Focus on employee wellbeing

Dec 2020

Ridding the world of payday lenders, and supporting everyone towards better financial health.. Most of us have been there, running out of money at the end of the month, and reaching for the overdraft, or credit card - and often running up far more in bills than you plan to. But if you have a poor credit score, you may not have access to an ovcerdraft or credit card, and what if you have a real emergency - the dog urgently needs the vet, or the car has broken down - what do you do? Payday loan at 1500% interest? But what if you had ready access to your wages to see you through until payday - wages you've already earned... wouldn't that be great...! Plus a package of learning and saving to help you get on the road to better financial health. Lovely :)

Software Engineering

Inspiring mission

Dec 2020

Testament to the onboarding/interview process, everyone is top of their game. By their game its not that everyone just has the answers either, there is also a desire to find the answer, which is just as big an indicator of type of people that work here.

Software Engineering

Intelligent people

Dec 2020

Shoutouts and company wide recognition are a thing! If you do great work be prepared to be spotlighted as the company shows its appreciation!

Software Engineering

Great work is recognised

Dec 2020

The best onboarding experience I have ever had, including those that were office based. I had great communication with our HR and Head of People, which really is the key, and then constant updates on technology, hardware and anything that I needed to start my role. e.g the Head of Infrastructure made time with me before I started to help set up my laptop so I could hit the ground running.

Software Engineering

Thoughtful onboarding

Dec 2020

Wagestream is growing quickly and my team's remit has changed three times in as many months. We're at a real inflection point and bringing new people on every week, so things are very exciting and we're building huge momentum. There's huge opportunity to shape the growth and direction right now.

Software Engineering

Growing fast

Dec 2020

Wagestream is about fundamentally changing the way financial services are provided to people, so that the poorest don't have to pay the highest premiums for financial services as they have until now. We're still in early days helping to provide a fair alternative to payday loans but that's just the beginning!

Software Engineering

Inspiring mission

Dec 2020

Everything we're building at the moment is helping our mission of delivering fairer financial services for all. When the coronavirus pandemic peaked and the UK government released a new furlough scheme to help struggling businesses and their employees, Wagestream quickly released support for that into our offering so that those businesses could offer furloughed wage access to their employees independently of time worked. It's being able to quickly build things that having a meaningful impact on people's lives that leaves me feeling good at the end of the day.

Software Engineering

Meaningful work

Dec 2020

Wagestream's mission to help end the poverty premium worldwide. Working to build a modern, fair product that makes predatory payday lenders a thing of the past is a mission I can get behind.

Software Engineering

Inspiring mission

Dec 2020

Wagestream is growing amazingly fast, but with purpose and thoughtful hires. The opportunity to have so much direct influence on a company that has the opportunity to change the way the world works is a once-in-a-lifetime chance.

Software Engineering

Growing fast

Dec 2020

I have never worked in an environment with so many fantastic people. Everyone is not only incredibly smart, but dedicated to the task at hand.

Software Engineering

Intelligent people

Dec 2020

The team is great and the purpose of the company make it a ideal organization to be part of.

Operations & Strategy

Team energy

Dec 2020

The company looks for making a positive impact in society specially for the people that do not enjoy high level of salaries.

Operations & Strategy

Inspiring mission

Dec 2020

I am helping Wagestream to go further, reach more people and achieve a global success.

Operations & Strategy

Meaningful work

Dec 2020

The two co-founders are two of the most energetic and passionate people I've ever worked with. They are open in their decision making and stay true to the company values.

Finance, Legal & Compliance

Strong leadership

Dec 2020

Every month employees who have gone above & beyond their role are nominated by their colleagues and employees are rewarded with a voucher for their efforts. Promotions are also celebrated which is always uplifting.

Finance, Legal & Compliance

Great work is recognised

Dec 2020

New joiners to Wagestream always receive a bag of company swag before starting full of bits like branded tote bags, beanies and waterbottles and they also receive a gift hamper full of ethically produced goodies. New starters often say they already feel like a part of the team by their first day.

Finance, Legal & Compliance

Thoughtful onboarding

Dec 2020

The team rallies to deliver our mission and the push to make a meaningful impact on the world.

People, HR, Recruitment

Hard working team

Dec 2020

This year has been like no other and our move to Remote First has brought so much shared respect and empathy for the real lives and challenges of our colleagues. Last week we had team members sharing and celebrating the national days of Barbados and Scotland (same day - who knew?!) and it was a wonderful reminder that we're a team made up of so many backgrounds. I also love that Wagestream are not afraid to shy away from the tough subjects and their Lunchtime Learning sessions on D&I have been really memorable.

People, HR, Recruitment

People of all backgrounds are welcomed

Dec 2020

Rarely a week goes by when employee wellbeing isn't mentioned. The rollout of Spill has given everyone in the business access to expert mental health support - so valuable during this challenging year. Alongside this we've had almost militant orders to take time away from our desks everyday and to take holidays to recharge. I think we really excel at this.

People, HR, Recruitment

Focus on employee wellbeing

Dec 2020