{"id":52366,"date":"2018-10-22T16:23:20","date_gmt":"2018-10-22T15:23:20","guid":{"rendered":"https:\/\/staging.startups.co.uk\/startups-awards\/?p=52366"},"modified":"2021-12-15T11:07:04","modified_gmt":"2021-12-15T11:07:04","slug":"peoples-champion-finalist-2018-salary-finance","status":"publish","type":"post","link":"https:\/\/staging.startups.co.uk\/startups-awards\/peoples-champion-finalist-2018-salary-finance\/","title":{"rendered":"People’s Champion finalist 2018: Salary Finance"},"content":{"rendered":"

Start-up name: <\/strong>Salary Finance
\nFounders: <\/strong>Asesh Sarkar
\nStarted in: <\/strong>July 2015
\nBased in: <\/strong>London
\nBusiness description: <\/strong>Financial wellbeing platform for employees<\/p>\n

Shortlisted categories:<\/h2>\n

The Founders Pledge Social Impact Award<\/a>, and B2B Business of the Year<\/a><\/p>\n

The Salary Finance story:<\/h2>\n

Salary Finance was inspired by a very personal experience.<\/p>\n

Co-founder and CEO Asesh Sarkar had helped his children’s nanny pay of her debts by giving her a loan that she repaid monthly from her salary. But it was indicative of a much bigger problem…<\/p>\n

Sarkar wondered: How can we live in a world where a minimum-wage worker could be paying 1,000% on a payday loan, yet their CEO on a six-figure salary can get the same loan at 3-4% per annum?<\/p>\n

Sarkar’s solution was to create a platform that could address the problem at scale.<\/p>\n

Salary Finance combines employee loans, education and saving products. It helps people get out of debt more quickly by partnering with employers to provide a low interest loan repaid through payroll.<\/p>\n

The business estimates that it can save UK employees alone £4bn in interest payments annually, whilst helping them borrow responsibly and learn better habits. It’s already on track to reach one million employees by the end of 2018.<\/p>\n

Not content just dealing with debt, Salary Finance now offers a saving plan as an extension of its loan facility. Employees simply choose the amount of their salary they wish to save and can change their deduction amount at any time.<\/p>\n

Why Salary Finance made our shortlist:<\/h2>\n

So many of us live our lives constantly burdened by enormous debts. Salary Finance is alleviating that burden. Borrowers have already saved more than £76m using the platform, and are helped to get out of debt between six and 12 months sooner.<\/p>\n

That’s a real, measurable difference to people’s lives, which is why the platform is in the running for both The Founders Pledge Social Impact Award and B2B Business of the Year.<\/p>\n

Where to find out more about Salary Finance:<\/h2>\n

Website: <\/strong>www.salaryfinance.com<\/a>
\nTwitter: <\/strong> @salaryfin <\/strong><\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Start-up name: Salary Finance Founders: Asesh Sarkar Started in: July 2015 Based in: London Business description: Financial wellbeing platform for employees Shortlisted categories: The Founders Pledge Social Impact Award, and B2B Business of the Year The Salary Finance story: Salary Finance was inspired by a very personal experience. Co-founder and CEO Asesh Sarkar had helped his children’s nanny pay […]<\/p>\n","protected":false},"author":63583,"featured_media":52449,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[221],"tags":[],"class_list":["post-52366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finalists-2018"],"acf":[],"yoast_head":"\nPeople's Champion finalist 2018: Salary Finance - Startups Awards<\/title>\n<meta name=\"description\" content=\"The business aiming to save UK employees \u00a34bn in annual interest payments with its innovative finance platform. 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