Kuala Lumpur-based fintech company Paywatch has raised US$20 million in its Series A funding round. The investment came from South Korea’s Kakao Pay and Malaysia’s Artem Ventures.
Paywatch has raised more money, bringing its total funding to over US$50 million. This total includes extra credit provided by banks from around the world.
The recent Series A funding comes after an earlier investment from US backers, such as Third Prime (based in New York), the University of Illinois Foundation, and Vanderbilt University.
Paywatch plans to use the funds to turn its platform into a full financial wellness solution for companies and their employees across Southeast Asia. They aim to improve their main Earned Wage Access (EWA) service by adding features like micro-insurance, global payments, and rewards.
The company also says the money will help them build a next-generation platform using AI and advanced payment technology.
Kakao Pay, as a strategic investor, will work with Paywatch to create financial solutions for businesses in Southeast Asia and South Korea.
Artem Ventures invested through the TIM Ventures Fund, which is supported by FWD Group.
Paywatch, founded in 2020, helps employees access their earned wages in real-time at fair prices. This supports both their financial wellbeing and productivity.
The company also works with the UNCDF and the International Labour Organisation to make sure wage access is provided responsibly.
“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
Low Zhen Hui, Managing Partner of Artem Ventures,said : “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.”
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