Stream, the workplace finance provider formerly known as Wagestream, has raised $90 million in a Series D round, bringing total funding to $228 million. The company said the new capital will support its push to bring “fair financial tools” to more workers by expanding partnerships with employers and continuing to broaden its product suite.
The round was led by Sofina, with participation from existing backers including Balderton, which first invested in Stream in 2019 after co-leading the company’s Series A alongside Northzone and QED. Stream said it now counts more than 75 investors, including major financial institutions and social impact firms.
Stream reported that it supports more than 2,000 employer brands and serves four million workers across the UK, Europe, and the US. The company launched in 2018 with earned wage access, offering workers flexible access to wages already earned for a low, flat fee, positioning the product as an alternative to high-cost short-term credit. Since then, Stream has expanded into a broader workplace finance platform focused on saving, budgeting, planning, and access to more affordable credit through employer relationships.
Stream said members have saved more than $200 million by avoiding higher-cost financial products. The company plans to use the new funding to continue building out its offering, including pensions, while also supporting international growth and further expansion in the US.
KEY QUOTES
“We’ve had the privilege of partnering with Stream for seven years, and from the very beginning it was clear they had a powerful vision for how technology could transform financial wellbeing. Early user feedback showed just how meaningful that impact could be, and today Stream is delivering on that promise at scale: supporting millions of workers, partnering with thousands of employers, and saving members hundreds of millions of dollars. The team has built a truly category-defining business, proving that profit and purpose don’t have to be mutually exclusive. I deeply admire the warmth, authenticity and humility with which Peter and Portman have built Stream, and am excited to continue supporting them as they scale further.”
Rob Moffat, Partner, Balderton
“Stream has pioneered the workplace finance category in the UK, as one of the few platforms giving workers fair financial tools to save, budget and plan ahead – all through their employer. For many, this is the first time they’ve felt genuinely in control of their money. This investment will allow us to deepen that impact through pensions and international growth, helping more people build financial security. If we get this right, the benefits extend far beyond individuals – lowering personal debt, reducing risk of employment and boosting productivity.”
Peter Briffett, Co-founder and CEO, Stream
