Payd, a Malaysian fintech specializing in Earned Wage Access (EWA) solutions, has reportedly raised a $400,000 seed extension round from A2D Ventures, Orbit Startups, and AngelSpark.
This investment will now aim to accelerate Payd’s mission to enhance the financial well-being of employees across Southeast Asia.
Payd’s financial well-being platform enables employees to access a portion of their earned wages before payday, helping them manage expenses without relying on high-interest loans or credit.
This approach reduces financial stress, boosts productivity, and improves overall workplace satisfaction.
To date, Payd has gained the “trust” of over 100,000 employees across various industries. In Malaysia, Payd has partnered with major employers such as McDonald’s, Starbucks, KyoChon, Banyan Tree, and Valiram, providing employees with greater financial flexibility.
In Thailand, Payd has secured partnerships with Plan B Media, Ippudo Ramen, Salad Stop, Buzzebees, and Hello Bangkok Magazine, with ongoing expansion across sectors.
The company is also set to onboard new hospitality clients, including one of the world’s well-known hotel chains, and is extending its reach into the insurance sector with corporates.
Employer Benefits For employers, Payd provides a powerful tool to improve employee retention and satisfaction.
By offering on-demand access to earned wages, companies can create a more engaged and loyal workforce, leading to lower turnover and reduced recruitment costs.
In a competitive job market, Payd’s solution gives employers a unique value proposition to attract and retain top talent.
Ankit Upadhyay, General Partner at A2D Ventures, highlighted Payd’s potential:
“Joining Payd’s journey aligns with our commitment at A2D Ventures to backing solutions that transform industries and impact the lives of the underserved.”
Nick Ponomarev, Senior Investment Analyst at Orbit Startups, emphasized the platform’s value:
“I believe that Payd’s fundamental value lies in its ability to bridge the gap and integrate an underserved demographic of the unbanked and underbanked population into the broader financial system.”
Gaurav Dhar, founding board member of AngelSpark and sponsor for this opportunity, shared his confidence in Payd:
“Payd is addressing a significant need in the growing gig economy with its earned wage access solution.”
With this latest investment, Payd says that it is poised to expand its reach beyond its current markets in Malaysia and Thailand.
The company plans to forge new partnerships and continue reshaping financial accessibility for employees across the region.
By providing financial flexibility and support, Payd is positioning itself as a key player in the future of employee wellness and engagement.