wagely Raises $8.3M in Pre-Series A Funding


wagely, a Jakarta, Indonesia-based financial wellness platform, raised $8.3m in a pre-series A funding.

The round, which brings total funding raised to $14m in less than two years, was led by East Ventures (Growth Fund) with participation from existing backers, including Integra Partners, the Asian Development Bank, Global Founders Capital, Trihill Capital, Blauwpark Partners, and 1982 Ventures, as well as Central Capital Ventura, the VC arm of Indonesia’s largest private bank, Bank Central Asia.

The company intends to use the funds to develop its holistic financial wellness platform, which the company plans to start rolling out later this year, and expand in Indonesia and Bangladesh.

Launched in 2020 by Tobias Fischer, CEO, wagely is building a holistic financial wellness platform with earned wage access (“EWA”) at its core that lets workers of partner employers access their earned wages in real-time. The company partnered with some of Indonesia’s largest employers including British American Tobacco, Ranch Market, Adaro Energy, and Medco Energi.