Kakao Pay Leads $20 Million Series A Funding Round in Malaysian Fintech Firm Paywatch | Startup Story

Kakao Pay has led a $20 million Series A funding round in Paywatch, a Malaysian fintech company specializing in earned wage access (EWA) and financial wellness solutions across Southeast Asia. The round also included participation from Malaysia’s Artem Ventures, signaling strong investor confidence in Paywatch’s model and regional growth plans.

Democratizing Access to Wages and Financial Wellness

Founded by Richard Kim and Alex Kim, Paywatch is focused on improving financial access for underserved workers. Its platform enables employees to access a portion of their earned wages in real time, helping reduce reliance on high-interest payday loans and promoting healthier financial behaviors. By integrating directly with employers and banks, Paywatch delivers a compliant, secure alternative to traditional short-term credit.

Scale, Impact, and Strategic Partnerships

Paywatch’s footprint continues to expand as it aligns with major financial institutions and corporations to reach workers at scale. The company has earned recognition for advancing financial inclusion through responsible, bank-integrated EWA solutions.

• Bank integrations include Citi, OCBC, HSBC, and CIMB.
• Serves more than 200,000 employees and has processed over $150 million in transactions.
• Corporate partners include Genting Group, DFI Retail Group, Wilmar, and Shangri-La Hotels.
• Recognized by organizations such as the UN Capital Development Fund and Bank Negara Malaysia for contributions to financial inclusion.

How the New Funding Will Be Used

The Series A funding will fuel product development and market expansion. Paywatch plans to broaden its platform beyond EWA, bringing more holistic financial tools to employees and deeper value to employers.

• Product expansion into payroll solutions, employee rewards, savings, and insurance.
• New features for global money movement and cross-border functionality.
• Enhanced financial wellness tools to support long-term financial resilience for workers.

Regional Growth Strategy

Paywatch is scaling across key Asian markets, with active operations and growth plans in Malaysia, Indonesia, the Philippines, South Korea, Singapore, and Hong Kong. The fresh capital will support further expansion, local partnerships, and product localization to meet regulatory and employer requirements in each market.

Why Kakao Pay’s Investment Matters

Kakao Pay’s participation underscores its strategic interest in expanding financial technology services throughout Asia. By backing Paywatch, Kakao Pay taps into a growing segment of workforce financial solutions that bridge the gap between wages earned and liquidity needs, while maintaining strong ties to established banking systems.

This investment represents a major milestone for Paywatch’s mission to deliver technology-led financial inclusion. With new capital and strategic support, the company is positioned to accelerate innovation, deepen partnerships, and extend its impact to millions of workers across Southeast Asia and beyond.