Kuala Lumpur-headquartered earned wage access (EWA) company Paywatch has secured US$20 million in Series A funding. The round saw new investment from South Korea’s Kakao Pay and Malaysia’s Artem Ventures.
This latest influx of capital contributes to Paywatch’s total funding, which now exceeds US$50 million when including additional credit lines from global banks. The Series A funding follows an earlier tranche supported by US investors, including Third Prime (New York-based), the University of Illinois Foundation, and Vanderbilt University.
Also Read: Paywatch scores US$30M in Series A to enhance its embedded finance offerings
The proceeds are geared towards transforming the company’s platform into a comprehensive, multi-product financial wellness solution for enterprises and their staff throughout Southeast Asia. Paywatch intends to enhance its core Earned Wage Access (EWA) offering by integrating micro-insurance, global payments, and rewards.
Furthermore, the company states that the funding will accelerate its development into a next-generation platform, leveraging AI-native infrastructure and advanced payments technology.
As a strategic investor, Kakao Pay will partner with Paywatch to co-develop enterprise financial solutions across both Southeast Asia and South Korea.
Artem Ventures’s investment was made through the TIM Ventures Fund, which is backed by FWD Group.
Paywatch, founded in 2020, specialises in enabling employees to draw down their earned wages in real-time at the lowest equitable prices, thereby supporting financial wellbeing and productivity. The firm also collaborates with the UNCDF and the International Labour Organisation to ensure responsible wage access.
Paywatch currently operates in several key markets across Asia, including Malaysia, Singapore, the Philippines, Indonesia, Hong Kong, and South Korea.
Speaking on the investment, Alex Kim, co-founder and President of Paywatch, highlighted the strategic value of the new partners:
“We’re excited to welcome both Kakao Pay and Artem Ventures into the Paywatch family. Together, we’re building bridges between markets, technology, and people – enabling companies to empower their employees with real financial freedom. These strategic investors bring not just capital, but deep ecosystem synergies and experience across insurance, payments, and financial technology that will accelerate Paywatch’s growth as a comprehensive financial wellness solution provider across Southeast Asia.”
The platform has demonstrated substantial traction, having processed over US$200 million in transactions. Its client base includes major regional and global employers such as Lotte Group, Genting Group, DFI Retail Group (Guardian), Wilmar, Shangri-La Hotels, A&W, Lotus’s (CP Group), and Shake Shack.
Also Read: Why earned wage access is the future of pay
Low Zhen Hui, Managing Partner of Artem Ventures, commented on Paywatch’s proven scalability: “Paywatch not only delivers tangible social impact but has also proven its ability to scale rapidly across multiple markets in Asia. This is a rare example of a homegrown Malaysian fintech that combines meaningful financial inclusion with the operational and technological strength to serve top-tier clients.”
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