# SteadyPay

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/steadypay

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.steadypay.co
- Total disclosed funding: $10M
- Latest round: Seed (Mar 2, 2023)
- Investors on record: 5

## About

SteadyPay Limited is a financial technology company focused on providing innovative solutions that help consumers manage immediate financial needs while improving their credit ratings.Founded in 2017 by Ivan Istomin, John Downie, and Victor Pawley, SteadyPay Limited is headquartered in London, UK. The company specializes in financial products aimed at individuals with fluctuating incomes. It has raised funding through 4 deals, with the most recent deal occurring on March 2, 2023, during its Seed round, where it secured USD 3.000 mn led by N1 investment fund, joined by Ascension and British Business Bank.SteadyPay offers innovative financial products designed to assist consumers in managing their short-term financial needs while simultaneously enhancing their credit ratings. Their core offerings include CashWave, a subscription-based service that provides users with immediate access to instant loans of up to GBP 300, repayable in three equal monthly installments without any interest. Additionally, SteadyPay features a Credit Builder service, which aids users in improving their credit scores by allowing them to make regular payments that reflect positively on their credit history, targeting individuals with fluctuating incomes or less-than-ideal credit histories, primarily in the UK market.SteadyPay generates revenue through its subscription model, charging users a monthly fee for access to its financial services. The CashWave service incurs a monthly subscription cost of GBP 30, enabling users to access short-term loans of GBP 300. The revenue structure is primarily composed of direct-to-consumer transactions, with customers subscribing to the services and paying for their usage over a specified period. The Credit Builder service operates similarly, focused on assisting users in enhancing their credit profiles through subscriptions.In March 2023, SteadyPay Limited raised USD 3.000 mn in Seed funding to accelerate growth and expand operations. The company aims to enhance its product offerings and is designing new financial services aimed at further supporting consumers with short-term financial needs. Plans for market expansion are underway, focusing on reaching new geographical regions within the UK by the end of 2024. The recent funding will be allocated towards these new product developments and market expansion initiatives.

## Funding rounds

- Seed, Mar 2, 2023, $3M — British Business Bank, Ascension, N1 investment fund
- Series A, Feb 27, 2022, $5.4M — British Business Bank, Ascension, Launchbay Capital
- Seed, Dec 11, 2019, $2M — Salica Investments, Ascension

## Investors

- Salica Investments (https://capitalatlas.ai/funds/salica-investments) — Seed
- Ascension (https://capitalatlas.ai/funds/ascension) — Seed, Series A
- British Business Bank (https://capitalatlas.ai/funds/british-business-bank) — Series A, Seed
- Launchbay Capital (https://capitalatlas.ai/funds/launchbay-capital) — Series A
- N1 investment fund — Seed