Lending Fintech GajiGesa Closes US$ 6.6 Million Pre-series A Fundraiseby Fintech News Indonesia November 30, 2021
GajiGesa, an Indonesian employee management and wellness platform offering Earned Wage Access (EWA) and other financial services, has closed an oversubscribed US$ 6.6 million (IDR 94.5 billion) in pre-Series A funding.
The round was led by MassMutual Ventures, with participation from new investors including January Capital, Wagestream, Bunda Group, Smile Group, Oliver Jung, Northstar Group partners including Patrick Walujo, Nipun Mehra (CEO of Ula), and Noah Pepper (Head of APAC at Stripe), amongst other prominent angels.
Existing investors including defy.vc, Quest Ventures, GK Plug and Play, Next Billion Ventures also participated in the round.
The team said that it intends to use the fresh funds to rapidly accelerate product development, grow the business across Indonesia, and fuel expansion to additional markets across Southeast Asia.
GajiGesa’s core financial wellness solution is built around EWA which enables employees to withdraw their earned salary on-demand and ahead of the traditional month-end pay cycle and thus eradicating reliance on predatory lenders.
Martyna Malinowska, Co-Founder of GajiGesa said,
“In these turbulent times, our platform has become an invaluable tool enabling employers to actively help their employees reduce financial stress and take control of their financial futures.
We’re excited to welcome aboard incredible new investors as we look to double-down on growth in our efforts to expand financial stability for millions of workers in Indonesia and across the region.”
Vidit Agarwal, CEO and Co-Founder of GajiGesa said,
“We’re on a mission to expand financial security and dignity to every workplace by giving workers access to their hard-earned wages on-demand.
The growing momentum, interest, and support in fintech solutions that accelerate financial inclusion is clear and we’re excited to use the additional runway to expand our reach beyond Indonesia to more markets across the region.”
Featured image: (From left) Co-Founders Vidit Agarwal and Martyna Malinowska with Indonesian general manager Ade Yuandah Saragih