The Business Times
GAJIGESA, a fintech platform that allows users to access their wages in real-time, has raised US$2.5 million in seed funding to expand its reach in Indonesia. The round was co-led by US-based Defy.vc and Singapore-based Quest Ventures.
GajiGesa offers services such as Earned Wage Access (EWA), financial literacy content, bill payments and real-time analytics. Founded in 2020 by Vidit Agarwal and Martyna Malinowska, the startup aims to provide financial resilience for workers in Indonesia and help partner companies more effectively and easily manage their cash flow.
Mr Agarwal said that GajiGesa is aiming to build financial resilience “at scale”.
He added: “EWA is crucial to increasing the short-term financial wellness of Indonesian workers by eliminating their dependence on loan sharks or other informal and expensive sources of capital.”
Goh Yiping, a partner at Quest Ventures, agreed, saying: “GajiGesa’s platform is helping middle- to low-income workers who live pay cheque to pay cheque deal with stressful cash-flow issues. It provides much needed financial stability for employers and their employees during a time of unprecedented and continued economic uncertainty.”