Wagestream, a financial wellbeing company, has closed a $175mn Series C funding round.
In Brief:
Wagestream was built around the ability to offer flexible pay to workers.
It also offers services including financial education and coaching and budgeting tools.
The funding comes from a $115mn combined venture debt and funding capability from Silicon Valley Bank and a $60mn equity investment led by Smash Capital.
What does this mean?
Wagestream says it will use the fresh funds to hire new staff outside of the UK and continue to build a wider toolkit of financial services in its app. It is looking to target the US market.
