Gajigesa Secures $6.6M Pre-Series A Funding for Indonesian Workers

GajiGesa Secures $6.6 Million Pre-Series A Funding

GajiGesa, a fintech enterprise specializing in financial solutions for Indonesian laborers, has announced the successful completion of a $6.6 million USD pre-Series A funding round.

MassMutual Ventures spearheaded the investment, with significant contributions from January Capital, Wagestream – a European leader in earned wage access (EWA), Bunda Group, Smile Group, Oliver Jung, and Northstar Group partners like Patrick Walujo.

Nipun Mehra, CEO of Ula, Noah Pepper, Stripe’s Head of APAC, and existing investors including defy.vc, Quest Ventures, GK Plug and Play, and Next Billion Ventures also participated in this funding round.

Focus on Indonesia’s Unbanked Workforce

GajiGesa concentrates on providing services to individuals without traditional banking access. Its core offering, earned wage access, allows employees to access their earned wages on demand, rather than adhering to conventional monthly pay cycles.

Founders Vidit Agrawal and Martyna Malinowska emphasize that this immediate access to funds enhances financial flexibility and shields workers from potentially exploitative lending practices.

Growth and Expansion Plans

Over the last six months, GajiGesa has experienced substantial growth, doubling its team to over 50 employees. The newly acquired funding will be strategically allocated to product enhancement, geographical expansion within Indonesia, and entry into additional Southeast Asian markets.

Currently, the startup collaborates with over 120 businesses spanning diverse industries, including factories, plantations, manufacturing, retail, hospitality, healthcare, and technology firms.

Impact and Platform Features

According to GajiGesa’s client surveys, more than 80% of employees have ceased reliance on informal lending sources due to the availability of EWA.

Furthermore, 40% of users are now utilizing other financial services offered through the platform, such as bill payment and mobile data top-ups.

The company’s employer-focused application, GajiTim, is positioned as Southeast Asia’s leading integrated employee management solution.

GajiTim enables employers to efficiently manage all workforce administrative tasks, encompassing full-time, part-time, and gig economy workers, and currently boasts over 200,000 users.

Investor Perspective

Anvesh Ramineni, Managing Director at MassMutual Ventures, stated that GajiGesa’s combined platform, featuring user-focused design and advanced technological infrastructure, uniquely positions it to empower a historically underserved population.

This empowerment aims to bolster financial stability for millions throughout Southeast Asia.

For additional information regarding GajiGesa, a detailed profile was previously published by TechCrunch in February, coinciding with the company’s $2.5 million seed funding announcement.