Kredivo Group, a leading digital financial services provider in Southeast Asia, has announced the full acquisition of GajiGesa, an Indonesian Earned Wage Access (EWA) platform. This strategic move aligns with Kredivo Group's mission to offer fast, affordable, and accessible financial services to its customers. Following the acquisition, GajiGesa will continue operating under its own brand as a new business unit within Kredivo Group.

GajiGesa, co-founded in 2020 by Vidit Agrawal and Martyna Malinowska, has rapidly grown into Indonesia's leading EWA provider. The platform empowers employees by allowing them instant access to their earned wages through a user-friendly mobile app, helping to reduce reliance on predatory lenders. Employers can easily integrate GajiGesa into their existing systems, experiencing benefits such as improved talent retention and lower working capital requirements.

Vidit Agrawal, co-founder and CEO of GajiGesa, expressed his excitement about joining Kredivo Group. "GajiGesa is delighted to join forces with Kredivo Group. GajiGesa has been the fastest-growing EWA product in Indonesia over the last few years, with over 350,000 employee customers, and access to Kredivo’s highly advanced risk management and debt supply capabilities can take our business to the next level. We believe this transaction is an excellent outcome for our shareholders and employees alike, and we are excited to further accelerate growth in the years to come."

Abhijay Sethia, Kredivo Group’s Chief Strategy Officer, highlighted the strategic importance of the acquisition. "GajiGesa’s product suite puts employee wellness first and is a major enabler of financial inclusion by bringing underbanked customers into the formal financial system. Payroll is the starting point for building primary banking relationships with customers, and we believe that this product not only offers tremendous benefits to both salaried employees and their employers alike but is also entirely complementary to Kredivo Group’s existing businesses across its Kredivo (digital consumer credit) and Krom (digital banking) franchises. We look forward to supporting Vidit and his entire team in scaling the GajiGesa business going forward."

The completion of this acquisition is still subject to final approvals and customary closing conditions.

Kredivo Group, formerly known as FinAccel, operates digital financial services through its brands Kredivo, KrediFazz, and Krom. Kredivo is a leading digital credit platform in Indonesia and Vietnam, offering instant credit financing for e-commerce and offline purchases, along with personal loans. The group also operates Krom Bank Indonesia, a neobank focused on expanding digital banking services.

GajiGesa is Southeast Asia’s largest EWA platform, dedicated to giving millions of workers greater control over their finances. Its mobile app allows employees instant access to their earned wages, along with financial education tools, budgeting assistance, and responsible money management features. GajiGesa collaborates with over 400 enterprise employers and serves more than 350,000 employees across Indonesia.

This acquisition marks a significant step in advancing financial inclusion in Indonesia, providing innovative solutions that benefit both employers and employees.

PHOTO: INDOTELKO/IST

This article was created with AI assistance.