Wagestream, the UK-based workplace finance and wellbeing platform, has announced the acquisition of pensions technology company Zippen. The move comes amid unprecedented demand from employers for workplace financial benefits, further expanding Wagestream’s capabilities and underlining the evolving role of employers as providers of financial services.
Founded in 2017, Zippen brings specialist knowledge in defined contribution pensions. With an estimated £31.1 billion in pension assets remaining unclaimed in the UK, Zippen’s expertise is seen as a strategic addition to the Wagestream Group. Wagestream’s own research indicates that low and middle-income workers hold twice as many unclaimed pension pots as the average UK worker, highlighting a significant market need.
The acquisition reflects a broader shift in the employee-employer relationship, as financial services increasingly move from traditional institutions into the workplace. The evolution from debt helplines and hardship funds to salary-linked services, high-interest savings accounts, affordable loans, and flexible pay now forms part of mainstream employer offerings.
Peter Briffett, CEO and Co-Founder of Wagestream, commented: “We are in the midst of an evolution in the way financial support is provided to workers. Thousands of employers are realising that holistic financial wellbeing — from today’s pay to long-term planning — isn’t just a perk, but a driver of engagement, loyalty, and productivity. With Zippen joining the Wagestream Group, we are strengthening our expertise and furthering our mission to help people take control of their financial lives.”
Zippen’s Co-Founders, Stuart Feast and Ellie Tembras, will join Wagestream as part of the transaction. Feast noted: “We are so excited to be joining the Wagestream team. We have spent the last eight years building deep knowledge of the pensions ecosystem and we look forward to sharing that with a mission-led business that already reaches millions of workers globally.”
The acquisition aligns with Wagestream’s strategy to build a comprehensive platform for workplace finance and wellbeing. As the UK pensions landscape continues to change, Wagestream is positioned to address workers’ long-term financial challenges through payroll integrations, employer relationships, and proprietary employee data. Terms of the transaction were not disclosed.
