Wagestream Acquires Pension Technology Provider Zippen

Wagestream Zippen Acquisition marks a major move in the employee benefits space, as Wagestream acquires UK pension technology provider Zippen. The acquisition makes it easier for Wagestream to help millions of workers in the UK save money and improve their financial wellbeing over the long term.

Wagestream, the market leader in workplace finance and wellbeing, has announced the acquisition of pensions technology company Zippen. The move continues to support Wagestream’s mission of improving the financial wellbeing of every worker and solidifies the evolving role of employers as key providers of financial services in the workplace.

Founded in 2017, Zippen had developed specialist knowledge in defined contribution pensions. Its deep understanding of the UK pensions landscape – where an estimated £31.1 billion in pension assets remains unclaimed – makes it a valuable addition to the Wagestream Group. Wagestream research has shown that low and middle-income workers are disproportionately affected, holding twice as many unclaimed pension pots as the average UK worker.

The acquisition comes amidst a fundamental shift in the employee-employer relationship, as financial services increasingly move beyond traditional financial institutions, into the workplace. What was once limited to debt helplines and hardship funds has evolved into salary-linked financial services, high interest savings accounts, affordable loans, and flexible pay.

This strategic move is part of Wagestream’s larger goal to offer complete financial support, such as pensions, savings, and flexible access to pay.

Peter Briffett, CEO & Co-Founder of Wagestream comments: “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 the Wagestream Group.

Stuart Feast, Co-Founder of Zippen adds: “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 broader strategy to build the most comprehensive platform for workplace finance and wellbeing. As UK pensions continue to evolve, Wagestream is well positioned to understand and address workers’ long-term financial challenges through its payroll integrations, employer relationships and proprietary employee data.

With the Wagestream Zippen Acquisition, the company is expanding its financial wellness platform so that employees can more easily find modern pension plans.