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Indonesian earned wage access platform Wagely raises $8.3M as it expands into Bangladesh



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Wagely, an earned wage access (EWA) platform based in Jakarta and Dhaka, has raised $8.3 million in pre-Series A funding, just seven months after announcing its seed round. The new funds will be used to fuel wagely’s expansion in Bangladesh, where it recently launched, and build other features to become a “holistic financial wellness platform,” including savings, insurance, long-term installment loans and financial education.

Earned wage access platforms allow workers to access wages they have already earned on demand, instead of waiting until payday. Wagely says its user base grew 10x year over year in 2021, with clients including British American Tobacco, Ranch Market, Adaro Energy and Medco Energi.
The new round was led by East Ventures (Growth Fund), with participation from returning investors like Integra Partners, t …

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