Wagely, an earned wage access platform, secured $8.3 million in pre-Series A funding to expand its services and develop a comprehensive financial wellness platform in Bangladesh.

Target Information

Wagely is an earned wage access (EWA) platform operating in Jakarta, Indonesia, and Dhaka, Bangladesh. It has successfully raised $8.3 million in pre-Series A funding, following its seed round taken just seven months prior. The capital raised will be instrumental in accelerating Wagely’s expansion efforts in Bangladesh, where the company has recently inaugurated its services.

Wagely aims to evolve beyond EWA services, aspiring to develop a comprehensive financial wellness platform. This will include a range of features such as savings options, insurance products, long-term installment loans, and financial education resources to better serve its clientele.

Industry Overview in Bangladesh

The financial landscape in Bangladesh is rapidly evolving, marked by increasing access to digital financial services. The country's economic growth has spurred increasing demand for innovative financial solutions, particularly among youn