Paywatch has closed its US$20 million Series A round with new investments from Malaysia’s Artem Ventures and South Korea’s Kakao Pay.
The funding builds on an earlier tranche led by New York-based Third Prime and US investors, including Vanderbilt University and the University of Illinois Foundation.
With additional credit lines from global banks, Paywatch has raised over US$50 million to date.
The proceeds will support its expansion into a multi-product financial wellness platform for enterprises and workers across Southeast Asia, adding micro-insurance, global payments, and rewards to its Earned Wage Access (EWA) service.
Artem Ventures invested through the FWD Group-backed TIM Ventures Fund, while Kakao Pay will co-develop enterprise financial solutions in Southeast Asia and South Korea.
Founded in 2020 and based in Kuala Lumpur, Paywatch works with the International Labour Organization and UNCDF to promote responsible wage access.
Its platform enables employees to draw earned wages in real time at the lowest equitable prices, supporting financial wellbeing and productivity.
Paywatch serves employers including DFI Retail Group (Guardian), Genting Group, Shangri-La Hotels, Lotus’s (CP Group), Shake Shack, A&W, Lotte Group, and Wilmar, and has processed over US$200 million in transactions.
The company operates in Malaysia, the Philippines, Indonesia, Singapore, Hong Kong, and South Korea.
Paywatch said the funding will accelerate its growth into a next-generation platform built on AI-native infrastructure and advanced payments technology.
“We’re excited to welcome both Kakao Pay and Artem Ventures into the Paywatch family. Together, we’re building bridges between markets, technology, and people – enabling companies to empower their employees with real financial freedom.
These strategic investors bring not just capital, but deep ecosystem synergies and experience across insurance, payments, and financial technology that will accelerate Paywatch’s growth as a comprehensive financial wellness solution provider across Southeast Asia.”
said Alex Kim, Co-Founder and President of Paywatch.
“We’re thrilled to invest in an innovative company like Paywatch. Paywatch not only delivers tangible social impact but has also proven its ability to scale rapidly across multiple markets in Asia.
This is a rare example of a homegrown Malaysian fintech that combines meaningful financial inclusion with the operational and technological strength to serve top-tier clients. We’re excited to support Paywatch as it continues to lead and redefine the financial wellness landscape for employees across the region.”
said Zhen Hui, Managing Partner of Artem Ventures.
Featured image: Edited by Fintech News Malaysia, based on image by Pixelid via Freepik
