Home FinTech Indonesian fintech startup GajiGesa raises USD 6.6 million in pre-series A round

Indonesian fintech startup GajiGesa raises USD 6.6 million in pre-series A round

Indonesia-based GajiGesa, a management and wellness platform for employees and workers offering financial services, management tools, and counselling, raised USD 6.6 million on 30th November.

Investors: The investment round was led by MassMutual Ventures, with several investors include January Capital, Wagestream, Bunda Group, SmileGroup, Oliver Jung, Northstar Group partners including Patrick Walujo, Nipun Mehra (CEO, Ula), and Noah Pepper (Head of APAC, Stripe), alongside other prominent angel investors. Additionally, existing investors such as defy.vc, Quest Ventures, GK Plug and Play, and Next Billion Ventures participated in the round.

Purpose of funding: The startup will use the fresh funds to accelerate product development quickly, expand across Indonesia, and enter other Southeast Asian markets with new capital.

About GajiGesa

Founded in 2020 by Martyna Malinowska and Vidit Agarwal, GajiGesa is located in Jakarta, Indonesia. GajiGesa is a management and wellness platform for employees and workers offering financial services, management tools and counselling. The platform helps expand economic resilience for workers and enables partner companies to effectively and efficiently manage their workforce and cash flow. It empowers employers with the tools to provide holistic financial, health and education benefits to their employees on an all-in-one integrated platform. The core financial wellness solution is built around Earned Wage Access (EWA) which allows employees to withdraw their earned salary in advance of traditional month-end payday cycles, eliminating the need for predatory lenders. It helps MSMEs streamline activities related to employee management and reduce time spent on collating and managing staff records.

What the founder has to say

“We’re thrilled to have support from incredible new investors like MassMutual Ventures, Wagestream, and others who join our amazing stable of existing partners who believe in our mission. Their investment is a testament to the GajiGesa team who have built a business with strong fundamentals and huge growth potential,” said Vidit Agarwal, CEO and Co-Founder at GajiGesa.

 “Millions of workers and SMEs across Southeast Asia remain underserved. 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.”

What the investors have to say

“We’re thrilled to support GajiGesa’s mission to transform pay for everyone. Their integrated platform combines customer-centric product design and world class technology infrastructure to ensure they are uniquely positioned to empower an chronically underserved market and help expand financial resilience for millions across Southeast Asia,” said Anvesh Ramineni, Managing Director at MassMutual Ventures.

“From the moment we met the fantastic team at GajiGesa, we were blown away with their innovative product roadmap and speed to market. As we accelerate on our shared mission to improve the financial health of workers across the globe, we look forward to working closely with the GajiGesa team as they continue to expand their client base and product set across the SEA Region,” said Peter Briffett, CEO and Co-Founder at Wagestream.

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Varun Nath writes about the startup ecosystem on VC Bay. A student at Delhi University, he is pursuing a Bachelor of Commerce degree. In pursuit of exploring the world of finance and technology. You can reach him at varunnath155@gmail.com


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