Stream Raises $90 Million to Expand Financial Services for Low Income Workers

Stream, the workplace finance company focused on assisting low-income workers, has successfully raised 90 million from investors including Better Society Capital. This substantial funding aims to propel Stream’s expansion in the United States and introduce new pension tracking and consolidation services to its clientele.

The company currently serves three million employees across notable organisations such as Asda, Next, and Hilton Hotels, in addition to over half of all NHS trusts. Stream, founded in 2018 and initially known as Wagestream, strives to combat the reliance on predatory payday lenders by offering affordable financial solutions for working families.

Peter Briffett, the chief executive, highlighted the company’s ambitious growth plans, noting a significant demand from its UK client base for more financial products. The recent funding will enable Stream to build its brand and team while scaling operations in the US, which is expected to be a costly yet essential endeavour.

Up to this point, Stream has raised a total of 228 million and secured a 500 million credit facility from prominent international banks, including Citi, HSBC, and BlackRock. The company operates under a legally binding social charter designed to enhance the financial well-being of workers; every financial backer must commit to this mission.

In 2024, Stream reported revenues of 36.9 million with a pre-tax loss of 22 million. The company experienced a remarkable growth rate of 87 percent annually for three years, earning a position on this year’s Sunday Times 100 Tech fast growth ranking. Briffett recently stated that sales growth accelerated to a full 100 percent in 2025.

Briffett indicated that this fundraising round is likely to be Stream’s last before pursuing profitability, which is anticipated by year-end. The UK division is already achieving breakeven. As a long-term strategy, the company is considering a stock market flotation to ensure its mission continues to transform the financial lives of millions of workers.