Aslan Secures £3.9M Seed Round to Transform Employee Pay Flexibility

[James]

Empowering Employees Through Financial Wellbeing

Aslan, a next-generation financial wellbeing solution, has announced an oversubscribed £3.9 million seed funding round. The round was led by Notion Capital, a prominent European software and cloud venture capital investor, alongside Redstone and several angel investors. Stephen Chandler, Managing Partner at Notion Capital, will join Aslan’s Board as part of this funding.

 

 

Aslan’s Mission to Revolutionise Pay

1. Making Pay Go Further

Aslan provides employees with:

• Reward Cards: Tax-efficient cashback on all spending, including holidays.

• Flexible Pay Options: Employees can choose when and how to get paid, within employer-defined limits, enabling responsible financial control and monthly budgeting.

2. Addressing Employee and Employer Challenges

• Rising Payroll Costs: UK businesses face higher payroll costs due to the Autumn Budget, with £100 in take-home pay now costing employers over £200.

• Cost of Living Crisis: Fixed payroll dates and rising personal debt levels leave employees struggling. Aslan helps employees avoid high-interest overdrafts and credit cards, providing savings of 25-40% in interest charges.

 

 

Rapid Adoption and Market Growth

Key Achievements

• Launched in April 2024, Aslan has onboarded high-profile clients across industries, from financial services to luxury goods.

• Strong employee adoption, with users engaging daily with the platform.

• Flexible pay and rewards are popular across all salary levels, with:

  • Average User Salary: £50,000 per year.

  • Significant Proportion: Earning over £100,000 annually.

 

 

Planned Use of Funding

Aslan will utilise the £3.9 million investment to:

1. Enhance User Experience: Launch new budgeting, financial education, and rewards features to increase engagement.

2. Scale the Team: Invest in top talent across product, engineering, and customer success to support growth.

3. Transform Workforce Engagement: Redefine how employers approach employee compensation and financial wellbeing.

 

 

Statements from Leadership and Investors

James Gozney, Founder & CEO of Aslan

"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. Aslan will fundamentally change the way that we all get paid, and how companies reward their people."

Stephen Chandler, Managing Partner at Notion Capital

"We are delighted to lead this investment round in Aslan and support its ambitious and passionate team. Aslan is bringing significant innovation to market by 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."

 

 

The Future of Employee Pay with Aslan

Transforming Financial Wellbeing

Aslan aims to:

• Empower employees to take control of their finances responsibly.

• Deliver tax-efficient benefits that enhance employee satisfaction.

• Help employers navigate rising payroll costs while offering innovative compensation solutions.

Driving Innovation

The company’s commitment to innovation includes:

• Expanding its suite of financial wellbeing tools.

• Building long-term partnerships with forward-thinking businesses.

• Redefining employee compensation and engagement across industries.