What Sparked the Push for Flexible Pay? The drive to provide frontline workers with fairer, more flexible access to their earnings led to the creation of a ground-breaking solution. This interview explores the vision behind reshaping pay cycles and improving financial wellbeing.

In this Entrepreneur UK interview, Peter Briffett talks about the driving force behind London based Wagestream, a company designed to give frontline workers greater control over their pay and financial wellbeing. He delves into the challenges he faced early on, how the economic environment shaped the business, and his vision for the future of financial services.

What inspired you to start your business?
Wagestream was born from a fundamental belief: frontline workers deserve a better deal. They pay over £500 more for basic services, every year, than the rest of us - and the biggest culprit is financial services. Why should someone who is already struggling pay even more for essentials like insurance and utilities that are cheaper for higher income earners? We created Wagestream to tackle this injustice, by delivering fairer, lower-cost financial services for frontline workers, through the trusted institution of the employer.

We were inspired by an innovative approach emerging in the US, where some large companies were experimenting by empowering employees with greater control over their pay cycles, offering access to earned wages on a more frequent basis. Recognising that bills and financial needs rarely align with those traditional pay schedules, my co-founder and I began to investigate the potential impact further afield. We discovered compelling evidence that workers in the UK, where monthly pay schedules are the norm, would significantly benefit from greater access to their earnings.

In 2018, Wagestream was established with investment from social impact investors like Better Society Capital, Joseph Rowntree Foundation, Social Tech Trust, and Barrow Cadbury Trust. Our initial focus was to eradicate the need for predatory payday loans, by giving workers the flexibility over what point in the month they get paid - a feature we call flexible pay. Since then, 15 more financial benefits have been introduced - like high-interest workplace savings, affordable loans and exclusive discounts - each one designed to give members more visibility and control over their finances. Pay is the most important contract between the employer and employee, so Wagestream revolves around the idea that if you make pay more flexible, more real, and more meaningful to people, then everyone will reap the rewards.

What was the biggest challenge you faced in the early stages?
One of the biggest challenges has been creating a commercial model that can contract and integrate with large, traditional enterprises, employing tens of thousands of employees. Back in 2018 many employers thought of financial wellbeing as a long-term goal, not an immediate priority. Now they realise it's a national emergency - a shift that's reflected in our rapid growth.

The solution was so obvious to us that we expected a wild ride with floods of CEOs lining up to sign up for Wagestream, but that's not how it panned out. Signing up large businesses as a small business with a new platform that challenged traditional pay cycles was a real challenge. We were a risk for businesses, so it was a hurdle we had to overcome. We had to prove the positive impact that financial wellbeing has on business metrics like retention, engagement and productivity, as well as the positive impact it has on employees themselves.

How has the UK's economic environment impacted your business decisions?
It's had a significant impact. For centuries, traditional banking structures have underserved frontline workers, deeming them too high-risk and low value for essential financial products. This creates a clear gap, one that Wagestream has been designed to fill. As the banking sector and economic conditions continue to evolve, we remain committed to adapting and innovating to meet the ever-changing needs of our members.

The growing demand for our services, fueled by the UK's economic landscape, is evident in our rapid expansion. We've gone from reaching one million members at the end of 2021 to over three million frontline workers globally in 2025. We now work with over 1,000 major employers, including Asda, Next, Pizza Express, Greene King, Burger King, Bupa, and the NHS.

How do you stay ahead of industry trends and innovate within your field?
To maintain our market-leading status, our innovation is driven by a deep understanding of our members. Wagestream remains the only financial wellbeing platform founded by charitable investors and bound to a social charter, ensuring our mission remains central to every decision.

To pinpoint the most pressing financial challenges faced by low and middle-income workers, we go beyond simple feedback collection, running regular co-creation workshops, and a dedicated research programme led by our Chief Impact Officer. This data directly informs the development of new features and improvements to existing services. For example, our research told us that saving is the primary indicator of financial resilience, so last September we launched a new easy-access savings benefit with 4.33% interest, deducted from salary. Since then, 800 organisations have helped their people save over £20 million, with 36% saving for the first time. By translating member insights into tangible solutions, we ensure our platform remains relevant and impactful.

What steps do you take to build a strong company culture?
Our company culture needs to reflect our mission, so it's essential every team member is passionate about what we do - this is a crucial part of our recruitment process. Our offices are radiant, social hubs and we always have a busy calendar of company events lined up, helping to keep relationships strong across the business.

What advice would you give to someone thinking about starting a business in the UK today?
My advice to anyone starting a business in the UK today is to have a crystal-clear vision of what you want to achieve, be able to articulate it, and completely focus on the goals you have set. Don't get distracted by new, shiny things. Be specific about what you're doing, and why. Especially if you're focused on social impact - make sure you have a proper impact thesis and track the impact metrics that matter to your business and your investors. There's great funding available for businesses with a genuine mission, so use it. The world is a much better place for social enterprises now than it ever has been.