In the UK alone, banks and lenders earn £3B in annual profits off those earning less than median wages. We want to return that £3 billion to the people who need it most.
How? We call it "Get-Paid-As-You-Go". When an employer purchases and installs the Wagestream platform, their employees can choose exactly when to get paid. This eliminates the financial stress caused by monthly payroll cycles, a cycle that banks and lenders are reliant on to make their profits.
After successful trials with over 35 companies employing some 40,000 people, we secured £40 million in funding from some big-name investors. We're now signing up dozens of companies per week, and seeing over 100% month/month growth.
We are a small (7 engineers), collaborative, and self-reliant team. We follow “Kanban-ish”: collaborate informally to assign tasks, with each team member picking up what they are most interested in. We are obsessed with our customers, and like to listen in to sales and training calls so we can gain instant feedback. We are not afraid to make a new feature for a customer while they are on the phone with our team, and launch it before the call is over. We believe that happy customers are more important than beautiful code.
Wagestream was co-founded by serial entrepreneurs Peter Briffett and Portman Wills. Peter has built and sold startups to Microsoft, Reuters, and Zolando. Portman has build and sold startups to GSN, AT&T, and NBC/Comcast. The engineering team have all previously worked together at multiple successful US startups.
We are backed by some of the world's most successful entrepreneurs on both sides of the Atlantic. We raised £40M in a Series A round in May 2019. But more important than the money is the expertise: our investors are behind 8 of the 10 largest fintech unicorns (on the planet, not just in the UK). It’s a humbling but exhilarating experience to get product feedback directly from our investors.
We're optimists. Look, we honestly believe we can make a meaningful dent in poverty. And we think we can do it with a small team (no more than 10 engineers). To fit in, you need to share our belief that technology products can meaningfully transform society. If you don't share this belief, our unbridled sunny disposition will most likely get on your nerves.