Aslan secures $5m to supercharge employees’ pay
By Gloria Methri
Aslan, the next-generation financial wellbeing solution, has announced its oversubscribed $5 million (£3.9m) seed funding round. The round was led by Notion Capital, a European software and cloud venture capital investor, alongside Redstone and a roster of angels.
Aslan exists to make employees’ pay go further with a highly engaging benefit that they use every single day. Employees get Aslan reward cards, offering tax-efficient cashback on all spending, even on holidays. Users are also empowered to choose when and how to get paid within limits set by clients. This provides employees with responsible control over their finances, enabling tangible monthly budgeting. With Aslan, employees can avoid using overdrafts and credit cards and save the 25-40% interest they charge.
The company is gaining rapid adoption in the UK market. Since launching in April last year, Aslan has onboarded high-profile clients in a wide range of industries, from financial services to luxury goods and achieved strong employee uptake. Employees already use the platform daily. Both the rewards and the flexible pay features have proved popular with employees across all salary levels, with the average salary of an Aslan user close to £50k a year and a significant proportion earning over £100k.
Investing in the Aslan team, product and customers, this funding will enable the company to:
- Launch a suite of budgeting, financial education and rewards features designed to enhance user experience and drive even higher employee engagement
- Invest in top talent across product, engineering, and customer success to support the company’s ambitious growth plans
- Transform how employers approach workforce engagement and financial wellbeing
James Gozney, Founder and CEO of Aslan, said, “We are incredibly excited to have the support of such highly respected FinTech investors as we enter this next phase of growth. This investment is a testament to the progress we’ve made, working with forward-thinking clients across multiple sectors within the UK workforce. But we are just getting started; Aslan will fundamentally change the way that we all get paid and how companies reward their people.”
Stephen Chandler, Managing Partner at Notion Capital, said, “We are delighted to lead this investment round in Aslan and to support its ambitious and passionate team. Aslan is bringing a significant innovation to market, in enabling flexible pay and rewards for salaried employees. It provides game-changing benefits for both employers and their staff, and we are excited about its next stage of growth.”
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