Payments start - up plc has won £ 4.5 m ( $ 5.91 million ) funding from catalyst , a venture capital firm backed by Bill ##es and Jeff Bezos , and other investors . Wagestream said it aimed to end the ‘ payday poverty cycle ’ by allowing workers to access their monthly wages in real - time , offering a ‘ get - paid - as - you - go ” service , reducing employee financial stress . The system operates by allowing workers to access their earned income at any time during the monthly pay cycle and can be implemented by companies without impacting cash - flow , payroll or timekeeping procedures . It is accredited by the UK ’s Financial Conduct Authority .
Payments start-up Wagestream has won £4.5m ($5.91m) funding from Village, a venture capital firm backed by Bill Gates and Jeff Bezos, and other investors. Wagestream said it aimed to end the ‘payday poverty cycle’ by allowing workers to access their monthly wages in real-time, offering a ‘get-paid-as-you-go” service, reducing employee financial stress. The system operates by allowing workers to access their earned income at any time during the monthly pay cycle and can be implemented by companies without impacting cash-flow, payroll or timekeeping procedures. It is accredited by the UK’s Financial Conduct Authority.