Paywatch, Southeast Asia’s leading fintech-driven employee benefit platform, has successfully completed a US$20m Series A equity round. The funding, supported by strategic investments from Malaysia’s Artem Ventures and South Korea’s Kakao Pay, marks a significant milestone in Paywatch’s transformation into a next-generation multi-product fintech platform.
The investment round, initially led by New York-based Third Prime and other US investors, brings Paywatch’s total capital raised to over US$50 million, including global credit facilities. This financial boost will enable Paywatch to enhance its suite of employee benefits, integrating insurance, payments, cross-border remittance, and rewards into an AI-powered ecosystem.
Artem Ventures, backed by FWD Group, aims to foster insurtech innovation, whilst Kakao Pay, South Korea’s largest digital wallet platform, will collaborate with Paywatch to develop enterprise solutions across Southeast Asia and South Korea. Alex Kim, Co-Founder and President of Paywatch, expressed enthusiasm for the partnerships, stating, “Together, we’re building bridges between markets, technology, and people – enabling companies to empower their employees with real financial freedom.”
Founded in 2020, Paywatch operates in Malaysia, the Philippines, Indonesia, South Korea, Singapore, and Hong Kong. It has processed over US$200m in Earned Wage Access transactions and serves clients like DFI Retail, Genting Group, and Shangri-La Hotels. The new funding will support Paywatch’s vision to become Asia’s premier employee benefits platform, delivering comprehensive financial solutions for employees.
Zhen Hui, Managing Partner of Artem Ventures, praised Paywatch’s rapid scaling and social impact, highlighting its role in redefining financial wellness for employees across Asia.
