Fintech startup based in Singapore and Hong Kong gets $700k in seed funding

Zetl, a Hong Kong- and Singapore-based fintech startup, raised US$700,000 in seed funding to finance product development and its Asia-Pacific expansion plans.

The Workplace Accelerator, a program focused on technology related to human resources, led the round, which also saw participation from angel investors and family offices.

Zetl co-founder and CEO Shan Han / Photo credit: Shan Han

Zetl provides services that cover working capital, payroll management, and growth financing for its recruitment and consultancy industry clients. The HR tech startup claims to have grown 300% after launching in Hong Kong and Singapore last year.

The company is eyeing a 500% growth in its customer base in 2021 after financing the wages of over 1,000 small and medium-sized enterprise (SME) employees.

“We’ve seen incredible demand from services-based SMEs who are now switching gears from survival to growth mode as the world recovers from the Covid-19 pandemic,” said Shan Han, co-founder and CEO of Zetl.