Fintech startup GetPaid has successfully reached a total of USD1.15 million in a funding round led by alternative lending platform Grover Pay. The investment raised will go into scaling and expanding its Earned Wage Access (EWA) offering across the Southeast Asian region.
"We are delighted to have strategic investors GroverPay and Nityo Infotech Services onboard," said GetPaid Founder and CEO Mitchell Goh. “We share a common goal with both, and they are like-minded in our mission to deliver services that will drive financial inclusion of underserved employees around the region. With their support and developed networks, we're excited to be partnering with them and growing together.”
GetPaid’s EWA is a financial wellness solution that allows employees access earned wages that haven’t been received yet free of interest charges and late fees. The fundraising comes amidst a pandemic-fueled demand for greater financial wellness solutions in the workplace, and growing investor interest and support in the EWA space.
CEO of Grover Pay, Krishan Grover also commented on the collaboration, expressing the company’s excitement to work with GetPaid as it expands its portfolio of products and services for financial inclusion. "Partnering and investing in GetPaid allows us to accelerate our growth across the region using our reach and technology and expertise and experience of GetPaid Asia team led by Mitchell Goh, their dynamic CEO and founder."