What Salary Finance US does

Salary Finance is a B2B2E (business-to-business-to-employee) financial wellbeing platform founded in 2015 and headquartered in London, with operations in the United Kingdom and the United States. The company partners with employers to deliver salary-linked financial products — including Borrow (personal loans of £1,000–£25,000 with automatic payroll-deducted repayments), Advance (early access to earned pay at a flat £1.69 fee per withdrawal), Save (salary-linked savings accounts provided through Coventry Building Society at 2.25% AER variable interest), Help to Save (a UK government-backed savings scheme administered via HMRC and NS&I), and Learn (a financial education platform with webinars, calculators, and a Financial Fitness Score assessment). The company also historically operated Work Report, a digital employment verification service that was sold to Experian in May 2022 with Salary Finance continuing as a data-sharing partner.

The underlying platform is built around proprietary integrations to employer payroll systems — over 600 employer connections — enabling automated salary deductions, repayments, and income verification. Employees access products through a web portal (My Salary Finance) and mobile applications on iOS and Android featuring biometric authentication and real-time account management. Underwriting for the Borrow product relies on credit reference data from Experian and TransUnion, while savings accounts are FSCS-protected up to £85,000 through the Coventry Building Society partnership. Salary Finance is authorized and regulated by the UK Financial Conduct Authority across two entities (firm references 758053 and 734585) and holds ISO 27001 information security certification.

The business model is free to employers, with revenue generated from loan interest on the Borrow product, per-transaction fees on the Advance product, and partnership economics on the Save product. Primary investors are Legal & General and Blenheim Chalcot, and the company serves enterprise clients across retail (Tesco, IKEA, Sainsbury's), financial services (Legal & General, Metro Bank, ClearScore), healthcare (multiple NHS Foundation Trusts), telecommunications (BT), and public sector (multiple UK local councils). Customers are reached through a hybrid B2B field sales motion targeting employer benefits decision-makers and a product-led growth motion through the website eligibility checker and mobile app distribution.

Name

Salary Finance US

Legal name

Salary Finance Limited

Website

https://salaryfinance.com

Company type

Private

Founded year

2015

Operating status

Operating

Short description

Salary Finance is a B2B2E financial wellbeing platform that partners with 600+ employers to deliver salary-linked loans, early-pay access, savings, and financial education to 4.5 million employees across the UK and US via payroll-integrated technology.

Ownership category

akta.pro rank

Product category

Employee Financial Wellbeing / Consumer Lending

NAICS

Other Nondepository Credit Intermediation (52229)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Employer-Sponsored / Payroll-Linked Personal Loans (Unsecured Installment) (FSAKAAAM)

akta.pro secondary industry

Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI)

Keywords

• Salary-linked lending
• Earned wage access
• Financial wellbeing benefits
• Employee financial education
• Workplace savings products

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Loan Interest: Salary Finance earns interest income on personal loans offered to employees. Loans range from £1,000 to £25,000 with APR rates specific to each employer. The company acts as either direct lender or credit broker for Salary Finance Loans Limited. Higher acceptance rates than traditional lenders due to salary-linked repayment security.
2. Advance Transaction Fees: Fixed fee of £1.69 per salary advance withdrawal. Since Advance is not a loan or regulated lending product, no interest is charged. Fee revenue is per-transaction based.
3. Savings Account Partnership: Partnership with Coventry Building Society for savings accounts. Salary Finance facilitates salary-deducted savings transfers. Revenue likely derived from partnership arrangements with Coventry Building Society on the savings product.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Salary Finance operates a B2B2E financial wellbeing platform that partners with over 600 employers to deliver salary-linked products to their employees: Borrow (affordable personal loans of £1,000-£25,000 repaid via payroll deductions), Advance (earned wage access up to 50% of pay for a £1.69 flat fee), Save (salary-linked savings via Coventry Building Society at 2.25% AER), Help to Save (government-backed savings scheme with up to £1,200 in bonuses), and Learn (financial education platform). The offering is free to employers, with revenue generated from loan interest, advance fees, and savings partnerships.

Product overview

Salary Finance is a financial wellbeing platform offering a suite of employee benefit products delivered through employer partnerships. The core portfolio includes Borrow (affordable salary-deducted loans up to £25,000), Advance (early access to earned pay with flat fees), Save (salary-linked savings with Coventry Building Society), and Help to Save (UK government-backed scheme). These are underpinned by Learn, a financial education platform providing webinars, videos, calculators and a Financial Fitness Score. The platform also includes Work Report (employment verification, now owned by Experian). Users access all products via the Salary Finance App (iOS/Android) or web portal, with products linked to employer payroll systems for automatic deductions and repayments.

Differentiator

Problem solved

Functional benefit

Brands

• Work Report: A digital employment verification service that enables employees to securely share their employment and income information with third parties. Work Report was acquired by Experian in May 2022, with Salary Finance continuing as a partner.

Products and services

• Borrow Salary-deducted personal loans for employees of partner organisations, offering higher acceptance rates and lower interest rates than traditional lenders. Loans range from £1,000 to £25,000 with automatic payroll repayments that build credit scores.
• Advance Employee benefit providing access to up to 50% of earned pay before payday with a flat £1.69 fee per withdrawal. Not a loan or credit product, so has no impact on credit score. Users can access it up to 3 times per pay cycle.
• Save Salary-linked savings product partnered with Coventry Building Society offering 2.25% AER variable interest rate. Money is deducted directly from salary and deposited into a Coventry Building Society instant access savings account, FSCS protected up to £85,000.
• Help to Save Government-backed savings scheme administered through HMRC and NS&I. Users can save £1-50 monthly and receive 50% government bonus (up to £1,200 over four years) on highest balances.
• Learn Financial education platform providing educational resources including live webinars, video box sets, blogs, guides, tools, calculators, and a ten-question Financial Fitness Score assessment. Content covers credit, budgeting, saving, investing, retirement, and life events.
• Salary Finance App Mobile application for iOS and Android enabling users to access and manage loans, advances, and savings; access educational content; track progress; and request salary advances. Features biometric login and push notifications.

Quantifiable outcome

• Up to £1,200 in tax-free government bonuses over 4 years for Help to Save participants
• +1 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core.

• Experian (Work Report)coreStrategic or Co-development Partner · 1 May 2022Experian acquired Work Report from Salary Finance in May 2022. Salary Finance continues as a partner, processing employment and income data on Experian's behalf. Work Report enables digital employment verification for mortgage, credit, tenancy, and employment checks through Salary Finance's employer payroll integrations.
• Coventry Building SocietycoreStrategic or Co-development PartnerCoventry Building Society provides savings account infrastructure for Salary Finance Save product. Savings accounts are FSCS protected up to £85,000. Salary Finance facilitates salary-deducted savings transfers, with Coventry Building Society handling the actual savings accounts and interest payments. Account offers 2.25% AER variable interest rate.
• HM Revenue & Customs (HMRC)coreStrategic or Co-development PartnerHMRC is the government body responsible for the Help to Save scheme. Salary Finance integrates with HMRC systems to help eligible employees (receiving Universal Credit) open Help to Save accounts and receive government bonuses. Data shared includes name, email, bank account details for account setup.
• National Savings & Investments (NS&I)coreStrategic or Co-development PartnerNS&I holds Help to Save accounts for eligible employees. Salary Finance transfers savings amounts to NS&I to be credited to employee accounts, subject to NS&I account rules including monthly contribution limits. Employees can earn 50% government bonus on savings over 4 years.
• Experian (Credit Reference)coreTechnology or IntegrationExperian provides credit reference services for loan underwriting. Performs soft credit checks during application (no impact on credit score) and hard searches when loan is accepted. Also provides data for ongoing loan monitoring and internal risk decisioning.
• TransUnion (Credit Reference)coreTechnology or IntegrationTransUnion provides credit reference data for loan underwriting alongside Experian. Credit checks include details of credit accounts, repayment performance, public information (electoral roll, bankruptcies, CCJs).

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Even: US employer-sponsored EWA and budgeting app partnering with employers to provide on-demand pay access. Direct competitor in the employer-embedded earned wage access category.
• Earnin: US-based EWA app offering no-fee access to earned wages plus low-balance alerts and tip-based monetisation. Direct competitor in the consumer-facing salary advance space.
• Dave: US fintech offering cash advances, banking, and budgeting tools to underbanked consumers. Direct competitor in salary-advance-style short-term liquidity, with a broader banking product set.
• Mintago: UK financial wellbeing platform offering salary sacrifice, savings, and financial education to employees via employer partnerships. Close UK-based competitor in the employer-embedded financial wellbeing category.
• Branch: US-based platform providing free instant pay, automated savings, and financial tools to hourly workers via employer integrations. Direct competitor in employer-embedded EWA and savings.
• Wagestream: UK-based financial wellbeing platform partnering with employers to offer salary advances, savings, and financial education. Closest direct competitor to Salary Finance, operating in the same employer-embedded B2B2E distribution model and product mix.
• PayActiv: US earned wage access provider acquired by ADP, offering salary advances and bill-pay tools to employees through employer partnerships. Direct competitor in EWA, now distributed through ADP's payroll-native channel.
• ZayZoon: Canada-headquartered EWA provider delivering earned pay access and financial wellbeing tools through employer payroll integrations. Direct competitor in the salary-linked employee benefits model.

Broad incumbents

• ADP: Global payroll and HR services incumbent that acquired PayActiv and now offers EWA natively to its employer base. Broader incumbent with deep employer relationships that pose a structural competitive threat.

Emerging players

• Nudge: UK financial wellbeing platform delivering personalised financial education, coaching, and savings tools through employers. Emerging player with overlapping target customer and employer channel.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Salary Finance US