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Home » British fintech company WagesTream secures 352 million euros to provide equitable financial services for workers.
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British fintech company WagesTream secures 352 million euros to provide equitable financial services for workers.

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Santre Secures €352 Million in Debt Financing to Enhance Financial Well-Being Solutions

Santre, a London-based startup, is making strides in financial well-being solutions by announcing a significant debt financing installation of 352 million euros facilitated by Citi. This funding will support Santre’s initiatives in developing workplace loan applications and expanding its offerings in accessible credit solutions.

Investors Join Forces to Support Santre’s Mission

The financing round saw contributions from notable investors, including Better Society Capital, Social Tech Trust, and Fair by Design. Prominent venture capital firms like Balderton Capital, Northzone, Qed, Smash Capital, Blackrock, and the British Business Bank also supported this innovative venture.

Positive Impact on Financial Health

Co-founder of Santre, Brad McGerald, expressed enthusiasm about the company’s progress: “In a short period, we’ve witnessed significant adoption and favorable feedback from our users who are benefiting from fair and accessible credit solutions. This funding will enable us to extend our offerings and provide more employees with alternatives to high-interest loans from traditional institutions.“

A User-Centric Financial Platform

Founded in 2024, Santre’s financial well-being application operates through employers, attracting over 12 million monthly visits. The platform empowers users to manage their earnings effectively, offering tools to save, spend, and borrow. With more than 10 million transactions per month and €2.9 billion in payments processed, Santre is establishing itself as a key player in financial services.

Improving Employee Financial Health

Brad McGerald emphasizes the platform’s simplicity for both users and administrators: “Our employees have reported improved financial health, reduced stress, and fewer trips to traditional salary loan providers. This solution supports both retention and recruitment efforts.” This innovative approach harnesses the power of technology to foster better financial habits among employees.

Tailored Loans with Transparent Terms

Santre’s loans are customized to meet individual needs, with repayment conveniently deducted from payroll. Unlike traditional lending, these loans accommodate various income frequencies, removing the constraints of a single monthly pay date. Offering “No fees, clear terms, and informed decision-making,” Santre aims to enhance financial resilience among employees. Current rates start at 5.9% APR, with an average expected rate between 13.9% and 16.9%.

Global Reach and Increasing Adoption

With branches in London, Madrid, and New York, Santre now serves 3 million members via 1,200 employers across the UK, Europe, and the US. According to their data, Santre stands as one of the most utilized financial service providers globally, helping employees make sound financial decisions through various tools including budgeting and coaching services.

Driving Positive Business Outcomes

The platform has achieved remarkable metrics, including over 12 million monthly visits, a 27% decrease in hiring time, and a 16% reduction in turnover rates. Users who engage with Santre’s solutions have experienced a 26% improvement in financial well-being, highlighting the platform’s effectiveness in promoting better financial practices among employees.

https://www.youtube.com/watch?v=4j_lcr68oyo" title="Santre Overview Video

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Fintech and AI recruitment are driving job expansion in London’s financial sector.

October 13, 2025

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