Wagestream, a financial wellbeing app founded by charities and designed for frontline workers, has closed a $175 million Series C funding round as it prepares to scale up support for underserved, financially stressed workers across North America and beyond.

The funding round is led by new investors Smash Capital - a U.S.-based investment firm focused on later-stage consumer Internet and technology companies. The round also includes new investors BlackRock, joined by follow-on investments from existing shareholders Balderton Capital, Northzone, charity fund Fair By Design, and new financing from Silicon Valley Bank.