Gajiku CEO Sherman Tanuwidjaja and CTO Herry Gunawan
Gajiku, an on-demand payroll and people management solution startup in Indonesia, has bagged a US$1.1 million seed financing round led by AC Ventures.
Agung Ventures, Monk’s Hill Ventures, Sampoerna, and other unnamed Indonesian entrepreneurs and angels also co-invested.
Gaijku will use the funds for product development, expanding the team, and accelerating sales and business development focusing on large enterprises in the Indonesian market.
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Gajiku was established in January 2021 by CEO Sherman Tanuwidjaja and CTO Herry Gunawan, who served as Head of Engineering at Ruangguru and Lead Engineer at Tokopedia.
The startup offers workers earned wage access (EWA) and other financial services. On the other hand, for employers, it assists in digitising their human resource and accounting operations by offering a full suite of employee management processes for attendance, payroll disbursal, and KPI tracking.
These businesses can also utilise Gajiku’s on-demand payroll services to provide their employees with a lifeline, helping them relieve financial pressure and reduce employee turnover.
Gajiku stated that its platform is most commonly used by labour-intensive businesses that employ thousands of blue-collar workers, most of whom are unbanked and may work in shady situations.
“Indonesia’s blue-collar workforce is filled with immense potential, given the right tools and opportunity to thrive. With more businesses looking to Indonesia as part of the global supply chain, we are working with employers to improve employee management, while also ensuring that their employees are in the best financial position for success,” said Gajiku Co-Founder and CEO Sherman Tanuwidjaja.
Gajiku counts Indonesian retail and manufacturing companies among its clients, with an average of more than 1,500 employees per client.
As per a press statement, through collaborations with Indonesian conglomerates and companies, 90 per cent of Gajiku’s registered employees trade at least once a month.
Over the past year, the archipelago has witnessed several fintech startups tapping into EWA solutions, including Paywatch, wagely, and GajiGesa.
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Image Credit: Gajiku
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