- Wagely, a financial wellness app based in Indonesia, has secured $23 million in a funding round comprising both equity and debt financing.
- The company provides businesses with an earned-wage access (EWA) solution that allows employees to access their pay daily.
- In 2023, Wagely distributed over $25 million in salaries to nearly 500,000 workers in Indonesia and Bangladesh.
- The equity portion of the funding was led by Capria Ventures, with participation from existing investors.
- The funds will be used to expand Wagely’s core offerings and enhance employee financial wellness in its primary markets.
