Forget Baywatch. Meet Paywatch! This startup helps employees quickly access cash whenever they need it. They've also gotten more cash themselves — a $9M Pre-Series A!

But they're not your average earned wage access startup.

• They operate in Malaysia and South Korea.
• Founded in 2020, they have over 100 corporate clients like KFC, Pizza Hut, TGI Fridays, Outback Steakhouse and more!

Investor check. Third Prime led the round. Hana Ventures and Parkwood Corp, Vanderbilt University's endowment fund and the University of Illinois endowment fund also joined in!

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🤑 Pay up, baby

For employees. The app tracks how many hours you've worked and shows you your total earnings based on that.

• Their EWA solution has hit a 50% engagement rate among Malaysian users.

Access your earnings anytime and withdraw up to 50% of your earnings. Then, you'll receive the rest of your salary on payday. Say bye to nasty loan sharks, high-interest loans and having to borrow from relatives!

• Withdrawals from Paywatch are sent straight to your bank account.
• Manage your money in-app.

For companies. Taking care of your employees can be easy. Just share a bit of basic information with Paywatch then you can start offering EWA to your employees!

• No changes at all. Just pay employees their usual salary once a month!
• Only pay a small fee per employee transaction — 1 MYR ($0.23).

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🏦 Banking on it

Here's why Paywatch is one to watch. They're partnered with major banks, and, to top it all off, they are the only Central Bank-backed EWA solution in SEA.

What does it mean? They can bridge Paywatch's users to the banking system, allowing them to access future financial aid and services from major banks. (Yay for financial inclusion!)

• Several of their users are underbanked, like gig workers who may have limited access to the financial services they need.

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🇵🇭 See ya soon?

They'll be expanding across Southeast Asia and beyond, including the Philippines and Hong Kong.

Oh, and they'll be looking into how they can offer more financial stability and financial inclusion across all levels of the workforce!