Northzone leads £20m round in Wagestream

QED Investors, Latitude Ventures and Balderton Capital also participated.

Northzone is currently investing from its Northzone IX fund, which closed on €500m.

QED is currently investing from its sixth-generation fund, which closed on $350m in February 2020.

Latitude is a sister fund of LocalGlobe that was announced with a target of $200m in 2018.

Balderton Capital VII, the VC's current fund, closed on $400m in November 2019.

The investment will be used to consolidate the company's market share in the UK and to fund its international expansion.

Previous funding
QED Investors led a £4.5m funding round alongside Firestartr and Ascension Ventures in September 2018.

A consortium of investors comprising QED Investors, Firestartr, Ascension and a number of other institutional investors committed £4.5m in early-stage funding to Wagestream in May 2019. Ascension Ventures invested via its Fair by Design fund.

Company
Wagestream's platform allows clients' employees to access their pay cheque at any time of the month. Founded in 2018, the company is based in London.

People
Northzone – Jeppe Zink (partner).

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• Topics
• Expansion
• UK / Ireland
• Financials
• Balderton Capital
• Northzone
• United Kingdom