Salary Finance Raises Funding to Launch in the US
Sep 2018
Congratulations to Asesh Sarkar and his team at Salary Finance! They recently announced that they’ve raised $20M worth of Series B funding - we’re delighted to be part of this, along with multinational financial services company Legal & General. The investment will be used to launch and scale Salary Finance in the U.S., as well as to continue to support its rapid growth in the UK.
Founded in the UK in 2015, the Salary Finance platform is fast becoming a mainstream employee benefit, reaching almost a million employees across the UK. Salary Finance partners with employers to offer a benefit that helps employees move from debt to savings. All savings deposits and loan repayments are taken by salary deduction, which creates a simple way for employees to manage their personal finances.
Recent employers to join the platform include BT, Capgemini UK, Virgin Active, Mitie and many NHS trusts and Councils.
The team recently launched its YouTube channel where you can watch their customers testimonials and see for yourself the impact SF is having on people’s lives; we highly recommend the latest case study featuring staff from Wrightington, Wigan and Leigh NHS Foundation Trust -we are proud to be playing a small part in supporting our NHS.
Dan Cobley, Chair of Salary Finance and FinTech Partner at Blenheim Chalcot, added,
“Since we founded Salary Finance with Asesh Sarkar and Daniel Shakhani in 2015, we’ve seen a strong appetite for the platform from a range of companies that want to help their employees better manage their finances. Founded on strong and authentic social principles and solving real problems for employees, it’s inspiring to see the rapid employer adoption and the difference we are making.”
We’re very pleased to be helping Salary Finance accelerate its plans to provide employees with much-needed financial wellbeing, and look forward to seeing the business expand its footprint into the US.