Indonesia: GajiGesa, an Indonesian financial wellness platform, announced today it has raised US$2.5 million in a seed funding round, co-led by Silicon Valley-based Defy.vc and Quest Ventures.
As per the company, the fresh funds will be used to expand its platform in Indonesia while also scaling its tech team in Jakarta.
GajiGesa was launched in 2020 by the husband-wife duo of Vidit Agrawal and Martyna Malinowska. Agrawal was the first Uber employee in Asia and previously the COO of automotive marketplace startup Carro. Malinowska was previously at Standard Chartered and Singapore-based fintech startup LenddoEFL.
GajiGesa’s fintech platform provides companies and their employees the tools to streamline their cash-flow by offering financial services, including Earned Wage Access (EWA), financial literacy content, and bill payments.
Since its launch four months ago, GajiGesa claims it has partnered with over 30 employers and serves over 10,000 employees in Indonesia.
The Jakarta-based startup works with companies by integrating into their existing HR and payroll systems to ensure “hyper-efficient and immediate onboarding”. This provides employees and employers more flexibility and control over their money.
“At GajiGesa, we’re building financial resilience at scale. 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,” said Agarwal.
“We’re giving hundreds of thousands of employees the tools and awareness to reach their financial goals with peace of mind. For employer partners, we help3 improve employee retention, productivity, and cash-flow,” he added.