Aslan Raises €4.7 Million Funding
Aslan’s Oversubscribed Seed Funding Round
Aslan, the London-based financial wellbeing platform, has successfully raised an oversubscribed €4.7 million Seed funding round to enhance its suite of rewards features and expand its team. The funding round was led by Notion Capital, a leading European software and cloud venture capital investor, alongside Redstone and several angel investors. Additionally, Stephen Chandler, Notion’s Managing Partner, will join Aslan’s Board of Directors.
CEO’s Vision for Financial Transformation
James Gozney, Founder and CEO of Aslan, expressed enthusiasm about the funding, stating: “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.”
Revolutionizing Employee Compensation
Founded in 2022 by James Gozney, Aslan’s mission is to “supercharge employees’ pay” with an engaging and practical financial wellbeing solution. The platform provides a mobile app and reward card that offer instant cashback on every purchase. It also allows employees to choose when and how they get paid, alongside access to budgeting tools and financial education.
Aslan’s vision is encapsulated in its tagline: “Aslan exists to make employees’ pay go further.”
Addressing Workforce Challenges
According to Aslan, employee compensation represents the single largest expense for most businesses, totaling €1.1 trillion annually in the UK. With the higher payroll costs introduced in the UK’s Autumn Budget, businesses are feeling the pinch as they implement annual pay raises. For instance, a business might now need to spend over €236 to deliver an additional €118.26 to an employee’s bank account.
Moreover, 30% of the UK population goes into overdrafts every month, and the average household owes over €2,955 on credit cards. Aslan’s solution enables employees to avoid reliance on overdrafts and credit cards, potentially saving them the 25-40% interest these financial tools typically charge.
Rapid Growth and Adoption
Since its launch in April 2022, Aslan has onboarded clients from diverse industries, including financial services and luxury goods, achieving remarkable employee adoption rates. The average salary of an Aslan user is approximately €59,000 per year, with a significant proportion earning over €118,000.
Strategic Use of Funding
With the €4.7 million funding, Aslan plans to:
Launch a suite of budgeting, financial education, and rewards features to enhance user experience and boost employee engagement.
Invest in top talent across product development, engineering, and customer success to support ambitious growth plans.
Transform how employers approach workforce engagement and financial wellbeing.
Investor Endorsement
Stephen Chandler, Managing Partner at Notion Capital, remarked: “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, 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.”
About Aslan
Aslan is a financial wellbeing platform founded in 2022 by James Gozney. It offers employees a range of tools, including instant cashback, flexible pay options, and financial education, to enhance financial health and engagement. Aslan aims to revolutionize employee compensation and help businesses optimize their workforce strategies.
Recent Achievements
Aslan’s innovative approach has already made waves in the industry, earning recognition for its forward-thinking solutions and rapid growth. With strong investor backing and a clear vision, the company is poised to lead the transformation of employee financial wellbeing in the UK and beyond.
Discover how Aslan is transforming employee pay. Visit Aslan’s website for more details on their groundbreaking platform and latest features.
Aslan Raises €4.7 Million Funding Aslan Raises 4.7 Million Funding
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