AC Ventures leads US$1.1m seed round in Indonesian salary-on-demand platform

INDONESIA-BASED earned wages and employee management startup, Gajiku, has raised US$1.1 million in a seed-financing round led by venture capital firm AC Ventures to expand its product offerings and operations in the country.

The round also drew participation from Agung Ventures, Monk's Hill Ventures Scouts Program, Sampoerna and several influential Indonesian entrepreneurs and angel investors, said Gajiku in a statement on Thursday (Jan 27).

The fresh funds will be used to develop its products, attract new clients, and increase its headcount, said Gajiku. It plans to focus on the Indonesian market.

Founded a year ago, Gajiku provides an on-demand payroll service which helps blue-collar workers access wages they have earned but not yet received. It also digitises employers' human resource and accounting operations.

It usually works with large employers with more than 1,500 employees. These include major Indonesian retail and manufacturing companies, it said.

Gajiku said 90 per cent of its registered employees transact at least one a month.

Sherman Tanuwidjaja, co-founder and chief executive of Gajiku, said: "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."

Tanuwidjaja and his co-founder, Herry Gunawan are former software engineers. Gunawan previously worked at Tokopedia and Ruangguru.

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