JAKARTA, INDONESIA—January 27, 2022—Gajiku, an Indonesian on-demand payroll and people management solution provider, today announced the completion of a US$1.1 million seed round of financing led by AC Ventures, with participation from Agung Ventures, Monk’s Hill Ventures, Sampoerna, as well as several influential Indonesian entrepreneurs and angel investors.
Founded in January 2021, Gajiku is an on-demand payroll and people management solution provider that allows employees to access salary on-demand through an employer-centric approach. Working closely with employers, Gajiku offers a full suite of employee management processes for attendance, payroll disbursal, and KPI tracking, helping employers digitize their human resource and accounting operations. The company generally works with larger employers, such as major Indonesian retail and manufacturing companies, averaging more than 1,500 employees per client. 90% of Gajiku’s registered employees transact at least once a month through partnerships with Indonesian conglomerates and enterprises.
Gajiku is typically used by labor-intensive enterprises that hire thousands of blue-collar workers, the majority of whom are considered underbanked and may work in informal arrangements. Low financial literacy among Indonesia’s blue-collar workers has made them particularly vulnerable to loan sharks and other predatory lenders. These workers may be living paycheck-to-paycheck or prone to disappearing on the job due to immense financial pressure. By offering Gajiku’s on-demand payroll services, employers can provide a lifeline to employees, helping them relieve financial pressure and reduce employee turnover. By rolling up earned wage access with human resources and financing services, Gajiku is able to provide a full suite of services that improve business efficiency, reduce employee turnover, and provide financial well-being for Indonesia’s working class.
Gajiku is led by a team of seasoned entrepreneurs, including Sherman Tanuwidjaja (CEO), who has years of experience developing enterprise technology with a focus on HR solutions for major clients including Temasek; and Herry Gunawan (CTO), who has stints as Head of Engineering at Ruangguru and Lead Engineer at Tokopedia. Members of Gajiku’s core management team also hail from major human resources tech players in Indonesia.
“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. By alleviating workers’ financial stress, we can increase the competitiveness of the Indonesian workforce and make a difference in people’s lives,” said Sherman Tanuwidjaja, Co-Founder and CEO of Gajiku.
With this round of financing, Gaijku plans to focus on product development to roll out new services and features for employers, drive sales and business development to bring on new clients with a focus on large enterprises, and increase headcount across all functions. Gajiku will continue to operate with a strict focus on the Indonesian market as it rolls out to more major employers throughout the archipelago.
“As Indonesian workers are often signed on informal arrangements, employee management is a major priority for businesses in improving efficiency and reducing turnover. We believe that Gajiku’s employer-centric approach will enable them to positively impact the largest number of employees through earned wage access and potentially other financial services,” said Adrian Li, Founder & Managing Partner of AC Ventures. “We are excited to support the Gajiku team as they change the way large enterprises manage their employees in Indonesia.”
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AC Ventures is a leading venture capital firm investing in early-stage startups focused on Southeast Asia. We are a generational partner to founders driving positive societal change and economic impact in Indonesia and beyond.