Aditya Hadi Pratama · · 1 min readAC Ventures leads $1.1m seed round of 🇮🇩 earned-wage access firm
Gajiku, an earned-wage access startup based in Indonesia, has raised US$1.1 million in a seed round led by AC Ventures, with participation from Agung Ventures, Monk’s Hill Ventures Scouts Program, and Michael Sampoerna.
Gajiku co-founders Sherman Tanuwidjaja (left) and Herry Gunawan / Photo credit: Gajiku
Founded in January last year, Gajiku helps enterprises provide on-demand salary services for their employees, letting them access their earned but unpaid wages. The startup also offers employee management solutions such as attendance, payroll disbursal, and a tracker for key performance indicators.
The firm was established by Herry Gunawan, who previously worked at Tokopedia and Ruangguru, and Sherman Tanuwidjaja, a software engineer.
In a statement, Gajiku said that 90% of its registered employees transact at least once a month. It usually works with large employers, such as major retail and manufacturing companies with headcounts of over 1,500.
See also: Is earned-wage access Indonesia’s latest hot ticket?
Gajiku plans to use the fresh funding for product development, sales, and hiring purposes. It initially wants to focus on the Indonesian market.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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