Zippen specialises in helping users locate and consolidate missing pensions into a single account.
Wagestream has acquired fellow UK fintech Zippen to expand access to pension services for UK workforces through its employee financial wellbeing platform. The financial terms of the deal have not been disclosed.
Founded by chairman Stuart Feast and COO Ellie Tembras in 2017, Zippen operates a workplace benefit service that helps employees locate and consolidate missing pensions. An estimated £31.1 billion in pension assets currently remain unclaimed in the UK.
Wagestream says Zippen’s technology is a “valuable addition” to the company, enabling it to enhance its product suite amid “unprecedented demand from employers for workplace financial benefits”. Feast and Tembras are also set to join Wagestream through the acquisition.
Wagestream provides tools for budgeting, financial coaching, earned wage access and workplace savings, with its platform now reaching around three million employees through over 2,000 business clients.
In May, Wagestream landed a £300 million debt financing facility with Citi to expand its workplace loan offering first launched in 2024. The company raised £17.5 million with Northzone in April of that year.
In 2023, the company acquired Keebo, a London-based credit card challenger built for “credit invisibles”, for an undisclosed sum.
Source: https://www.fintechfutures.com/
