Wagestream Secures £300m Facility from Citi

Wagestream, a London-based financial technology company specializing in employee financial wellbeing solutions, has secured a £300 million debt financing facility provided by Citi. The company, which serves over 3 million people through more than 2,000 brands, aims to offer its users fair and accessible financial services focused on payment tracking, budgeting, coaching, and savings. With its platform processing over 10 million monthly transactions and £2.5 billion in monthly payments, Wagestream plans to use the new facility to expand its Workplace Loans product in the UK, which allows for repayments via payroll deductions tailored to varied income patterns. This development comes on the heels of Wagestream being included in The Times Tech100 and Sifted 100 Fastest Growing Startups for 2025. The company has already garnered investments from impact investors such as Better Society Capital, Social Tech Trust, and several notable venture investors. The financing is a strategic move to challenge traditional high-interest loans from financial institutions and further Wagestream's growth trajectory, particularly as it eyes competition with high street banks.