Globally, on-demand pay has been a rising trend in HR tech for several years. On-demand pay allows employees to access some percentage of their earned wages instantly, which can be a lifesaver for people living anywhere near the poverty line. Initially brought to the market by startups like Hastee or DailyPay, now large payroll providers like Paychex and ADP have offered the service to their customers.
One of the latest entries to the market is U.K.-based Wagestream with an announcement of a Series B VC raise of USD $25.1 Million.