Thai fintech platform Salary Hero is expanding into Malaysia after raising $7.6 million in a Series A funding round anchored by Cento Ventures, according to an announcement.
The company, founded by Prabhav Rakhra and Jonathan Nohr, also increased its credit facility to $10 million to support on-demand wage payments, alongside the equity round.
The expanded credit facility, backed by regional banks and lenders, will support the company’s earned-wage access operations across the region. The company did not disclose the lenders or the terms of the facility.
Malaysia-based Kairous Capital and M Venture Partners also participated in the equity round, per the announcement.
Salary Hero provides workers with early access to wages they have already earned, alongside financial education and budgeting tools, through employer-integrated platforms.
The company operates in Thailand, where it serves more than 300,000 employees across over 100 companies.
It estimates its platform has helped workers avoid $150 million in predatory loans. Salary Hero said its corporate clients have reduced frontline employee turnover by 15% to 25%.
“We started Salary Hero because the financial system in Southeast Asia is broken for the people who can least afford it,” said Prabhav Rakhra, Co-founder and Managing Director of Salary Hero.
Salary Hero began operations in Malaysia in the second quarter of 2026 and aims to work with 50 corporate partners in the country by the end of 2027.
It is building a local team and developing partnerships with enterprise clients and distribution partners.
The expansion comes as financial resilience remains a challenge in Malaysia.
Bank Negara Malaysia’s 2024 Financial Capability and Inclusion Demand Side Survey found that 61% of Malaysians struggled to raise 1,000 ringgit ($237) for an emergency, up from 47% in 2021, according to Salary Hero.
“A factory worker in Thailand shouldn’t have to pay over 20% a month to cover a mid-month gap. We’ve proven in Thailand that there is a better model: one that’s fairer for workers and commercially compelling for employers. Malaysia is the next step,” Rakhra said.
