10 years ago

SalaryFinance Secures $6.1 Million in Funding for Debt Consolidation Service

  • SalaryFinance, a London, UK-based financial employee benefit service, has raised $6.1 million in funding from FinTech venture builder Brightbridge Ventures

  • The company intends to use the funds for customer acquisition and expansion of its operations team

  • SalaryFinance offers businesses in the UK a financial employee benefit that allows their staff to consolidate their personal debts and repay them via a low interest, fixed-rate loan

  • Loan repayments are taken directly from the employee’s payroll, rather than direct debit, reducing the cost and interest rate to around one third of the market average.

      • ProblemFinancial Services

      "Employees in the UK are burdened with high-interest personal debt, making it difficult to manage their finances and save money."

      Solution

      "SalaryFinance provides employers with a financial employee benefit that allows their staff to consolidate their personal debts and repay them via a low interest, fixed-rate loan. Loan repayments are taken directly from the employee’s payroll, rather than direct debit, reducing the cost and interest rate to around one third of the market average."

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