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Indonesia fintech Wagely makes bank while helping the unbanked
Wagely, Southeast Asia's earned wage access startup, has raised $23 million as it looks to get deeper into Indonesia and Bangladesh.
It’s no surprise that earned wage access has been held up by global banking institutions like JP Morgan as a financial panacea: it’s important for both employees and employers. Hausburg told TechCrunch the fee, which he describes as a “salary ATM charge,” generally stays between $1 and $2.50, depending on the partial wage employees withdraw, as well as their location and financial well-being. “The Wagely team has demonstrated excellent execution with impressive growth in providing a sustainable and win-win financial solution for underserved blue-collar workers and employers,” said Dave Richards, managing partner, Capria Ventures, in a prepared statement.
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