GetPaid, a fast-growing leader of workplace financial wellness solutions, today announced that it has completed a USD 1.15 million financing round.
This investment will enable GetPaid to scale and expand its Earned Wage Access (EWA) product across Southeast Asia. The round, which will close in the first quarter of 2022, was led by Grover Pay.
EWA is a financial wellness solution that enables employees to access wages that they have earned but not yet received.
It is not a loan and therefore does not have any repayment time frames, interest charges or late fees. Just a transaction fee that the employee pays if they want to access their earned wages.
The fundraising comes amidst a pandemic-fueled demand for greater financial wellness solutions in the workplace, and growing investor interest and support in the EWA space.
“We are delighted to have strategic investors GroverPay and Nityo Infotech Services onboard. We share a common goal with both, and they are like-minded in our mission to deliver services that will drive financial inclusion of underserved employees around the region.
“With their support and developed networks, we’re excited to be partnering with them and growing together,” said GetPaid Founder and CEO Mitchell Goh.
-PR NEWSWIRE
