How a global fintech is saving working parents £7,000+ per year on childcare
Company profile: 3,000+ employee fintech scale-up
Challenge: High-earning parents getting zero government childcare support
Solution: Workplace nursery partnerships
Results: Employees saving £616/month on average
The Challenge
This London-headquartered fintech operates worldwide, serving over 4 million small business customers. Like many fast-growing tech companies, they're competing hard for top talent.
But they had a retention problem brewing.
Working parents on their team—particularly higher earners—were being crushed by childcare costs. Many were paying £1,800+ per month for nursery fees.
The problem was especially acute for their higher earners. Anyone earning over £100,000 is not eligible for government childcare support, such as Tax Free Childcare.
Some employees were openly questioning whether they could afford to stay in London. Others were considering going part-time or leaving the workforce entirely.
The Solution
After researching options, they partnered with Gogeta to establish workplace nursery partnerships.
This allows employees to pay for nursery fees from their gross salary before tax—saving 30-40% on childcare costs depending on their tax band.
Gogeta provided the framework for employers to enter into partnerships with our established nursery network and the platform which enables them to administer the benefit to their staff.
The Results
Every employee parent with a nursery aged child signed up to use the benefit.
Employees using the benefit are saving £616 per month (£7,392 per year) on average.
One employee told us:
"I'm saving over £600 every month on nursery costs. That's more than £7,000 a year. We can actually save for a house deposit now instead of watching it all disappear on childcare."
Why This Matters
For high-earning working parents in particular, this benefit is transformative.
These employees don’t qualify for other Government childcare support and face the same cripplingly expensive bills as everyone else.
Now they're saving £7,000+ per year. That's more than most salary increases.
The benefit has quickly become a major retention and recruitment tool. Candidates are asking about it in interviews. Employees are telling colleagues at other companies about it.
One parent put it simply: "This is the most valuable benefit my employer offers."
Could this work for your team?
If you're competing for talent in London's tech scene, workplace nursery partnerships could be your secret weapon.
They're particularly valuable for:
- Companies with higher-earning employees
- Fast-growing tech and fintech businesses
- Teams competing for talent in expensive cities
- Organizations serious about supporting working parents
Get in touch to discuss: hello@gogeta.com
