Payd, a Malaysian fintech company specialising in Earned Wage Access (EWA) solutions, has announced a US$ 400,000 (approximately RM1.8 million) seed extension funding round.
The investment comes from A2D Ventures, Orbit Startups, and AngelSpark and will support Payd’s expansion across Southeast Asia.
Payd’s platform allows employees to access a portion of their earned wages before their regular payday, helping them manage expenses and avoid high-interest loans while reducing financial stress.
The company reported that it has onboarded over 100,000 employees.
Payd has partnered with major employers in Malaysia, including McDonald’s, Starbucks, KyoChon, Banyan Tree, and Valiram.
In Thailand, Payd has already partnered with Plan B Media, Ippudo Ramen, Salad Stop, Buzzebees, and Hello Bangkok Magazine, with continued growth in the hospitality and insurance sectors.
The company is also set to onboard a global hotel chain as part of its expansion strategy.
With operations in Malaysia and Thailand, Payd plans to use the new funding to strengthen its presence and build new partnerships across the region.
Payd previously raised RM7.5 million in its seed round in April 2022, bringing its total disclosed funding to approximately RM9.3 million.
Featured image credit: Edited from Freepik
