Co-founder, of Indonesia-based startup, GajiGesa, Vidit Agrawal, wants to provide workers access to their wages as they earn them. This gives the workers more liquidity and protects them from predatory lenders.
“Everyone is talking about profitability nowadays. I hope it stays. Building a revenue-based or profitable business is something I have advocated over the years,” Agrawal said while speaking to the media.
GajiGesa is an earned wage access business which means the firm makes it possible for workers to withdraw their earnings as they make them. This is better than waiting until the end of the month to get paid.
Why Is Indonesia-based startup GajiGesa Doing This?
The company is doing this as part of employer branding. This allows them to attract the best talent who will be able to withdraw part of their salary before month-end for whatever purpose.
With the level of loans circling on two sides of a factory in Semarang, Indonesia, Agrawal had no choice but to establish GajiGesa in 2020 with his wife. His wife, Martyna Malinowska is the company’s lead engineer and product manager.
Is The Company Doing That Now?
The GajiGesa app has 42 different features. This includes paying electricity bills, buying prepaid top-ups or petrol vouchers, and so on. It is worth noting that the lending company partners with more than 300 companies and serves more than 750,000 companies.
Agrawal claims that GajiGesa is the largest earned wage access player in Indonesia. In his words, he said,
“I don’t just say that myself. When you talk to the investors in the market, who talk to all the earned wage access players, they tell us we are the largest.”
“At the same time, we have never over-hired so it is a blessing that we didn’t have a layoff people,” Agrawal added.
Retrenchments of tech workers continue to increase in its numbers in Southeast Asia.
Conclusion
Concluding his speech, the entrepreneur shared some tricks on how to run a successful business. According to him, the following has helped him a lot.
- Sustainability first, growth second
- Cutting extra ‘fat on the bone’
- Taking care of employees.
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