SalaryFinance

SalaryFinance is a new employee benefit. Our mission is to save UK workers £4bn per annum through lower interest repayments. Research shows that 1 in 3 UK workers cite money worries as having a negative impact on their productivity at work. To address this, SalaryFinance works with progressive employers to help their staff reduce their personal finance interest costs. Our platform allows employees to take out loans when they need it, with repayments collected from salary deductions. This repayment method substantially lowers risk/cost, the savings from which we pass on to employees. We focus on reducing the cost of existing borrowing, rather than encouraging more. Our interest rate of 7.9% APR is the same for all staff and is around one third the rate charged by the big four UK banks, for loans less than £5,000. Whilst the big banks advertise lower rates, they tend to be for higher value loans and not available to all consumers. On average, employees who use SalaryFinance, benefit from an equivalent 2-3% pay rise, through lower interest costs. There is minimal admin and no cost or liability for employers, making SalaryFinance a win-win product, for employers and their staff.
Type
Private
HQ
London, GB
Founded
2015
Employees
20 (est)
SalaryFinance was founded in 2015 and is headquartered in London, GB

Key People at SalaryFinance

Asesh Sarkar

Asesh Sarkar

Co-founder and CEO
Dan Cobley

Dan Cobley

Co-Founder and Chairman
Daniel Shakhani

Daniel Shakhani

Co-founder and Advisor

SalaryFinance Locations

London, GB

SalaryFinance Metrics

SalaryFinance Summary

Founding Date

2015

Total Funding

$6.1 M

Latest funding size

$6.1 M

Time since last funding

about 1 year

Investors

SalaryFinance's latest funding round of $6.1 M was in November 2015. In total, SalaryFinance has raised $6.1 M.
44% of current employees of SalaryFinance are female and 56% are male.

SalaryFinance Company Life

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