The Founders Pledge Social Impact Award 2018

Start-up name: Salary Finance
Founder: Asesh Sarkar
Started in: July 2015
Based in: London
Business description: Financial wellbeing platform for employees

Money makes the world go around – we all know that the state of our finances can have a major impact on our health, happiness, and personal and work life.

With so many people borrowing at crazy high interest rates, burdened by enormous debts, London-based Salary Finance has created a solution to make a real difference to people’s lives.

And it’s this solution which saw the judges crown it The Founders Pledge Social Impact award winner.

By partnering with employers, Salary Finance helps employees improve their lives by improving their finances.

The business’ salary linked employee benefits have already enabled borrowers to save more than £76m, helping them to get out of debt some six to 12 months earlier than they typically would have.

Moving people out of debt into savings, through its offering Salary Finance is also helping companies to improve the wellbeing of their staff – with money worries gone, they can focus more on their work and increase their productivity.

Since launch in 2015, the start-up has racked up an impressive list of clients who are providing their services for their employees. Big employers including Metro Bank, Carlsberg, BT, Virgin Active, Saga, and Dunelm are all customers.

As businesses bringing about great social change, the judges were also impressed by Startups Awards finalists Elvie and Koru Kids.

Elvie, the creator of smart technology to improve the lives of women, was awarded Highly Commended while Koru Kids, the start-up providing better childcare options for parents in London took home the Commended title.