UK startup Wagestream has raised £20mn Series B funding.
In Brief:
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Wagestream allows customers to draw down wages before payday.
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The round was led by Northzone.
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It brings total raised up to £65mn.
What does this mean?
Wagestream was launched in 2018 and charges a fee of £1.75 for staff to take home a percentage of their wages at any point during the month. These facilities, which are essentially overdrafts based on earnings, are becoming increasingly popular. Employers must sign up to facilitate this for their staff.
