Wagestream, a London-based startup that offers a flexible pay and finance management app aimed at front-line and hourly workers, said Wednesday it raised $175 million in Series C funding it will use to expand in the U.S.
The app also integrates with other payroll systems and gives workers the ability to manage their income—including how often they’re paid—as well as track their savings.
“When we launched Wagestream, many employers viewed financial well-being in the workplace as a long-term aspiration; now they realize it is a national emergency,” Briffett said in a funding announcement.
Wagestream said its app is already used by around 250,000 retail, hospitality and health care workers in the U.S.
The startup is part-owned by impact funds including Joseph Rowntree Foundation, Barrow Cadbury Trust, Social Tech Trust, Big Society Capital and the Fair By Design Fund.
The company was incorporated with a social charter it continues to operate under that requires it to only offer financial services positively impacting workers.