Paywatch, an earned wage access (EWA) service provider, has raised USD 30 million through a combination of stock and credit facilities to support its expansion.

Paywatch raised more than USD 14 million in Series A fundraising, anchored by Third Prime and a consortium of US investors, including Vanderbilt University and the University of Illinois Foundation, with additional backers Octagon Venture Partners and Wooshin Venture Investment. Paywatch also acquired USD 16 million in credit facilities from global banks, including Citi, to fuel its product expansion. This is the largest fundraising round ever completed by an EWA player in Southeast Asia.

Paywatch provides a debt-free EWA solution, allowing employees to access a portion of their earned earnings in real time. The company claims that this service reduces employees’ reliance on loans, reduces household debt, and improves financial management, all while increasing employee retention and productivity. Lotus, Jaya Grocer, and QSR Brands are among the brands that have worked with Paywatch to promote the region’s financial well-being and economic prosperity.

Developer of an earned income access platform that provides low-cost borrowing directly to employees. The company’s platform serves as a bridge for workers to obtain low-cost credit from large financial institutions that would otherwise be out of reach, allowing them to live a healthy financial lifestyle.

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