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MOBILE & TELECOMMUNICATIONS | Mobile Software & Services / Payments
empala.co

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Founded Year

2020

Stage

Seed | Alive

Total Raised

$100K

Last Raised

$100K | 1 yr ago

About Empala

Empala develops a financial wellbeing service that helps to bridge the payday gap.

Empala Headquarter Location

128 Prinsep St

Singapore, 188655,

Singapore

Latest Empala News

Singapore start-up Empala minds the payday gap

May 21, 2020

Payments start-up Empala has powered up in Singapore with intentions to offer earnings on demand. The fintech company calls itself a “financial wellbeing service that helps to bridge the payday gap”. It works by letting employees request a portion of their earned wage to be paid whenever and wherever they need. The idea is to remove financial stress and avoid expensive loans and credit cards. The pandemic unsurprisingly gets a mention as Empala explains: “Workers across Asia are currently encountering a number of unexpected expenses due to COVID. By providing your employees with access to their earnings, funded by Empala throughout the pay cycle, you significantly reduce their financial stress and help them to face the challenges ahead.” In fact, it is also offering access to a relief fund of up to SGD 200 ($141) – or any limit desired – of earned income to help employees. Empala plugs into a company’s back-office, and lets the employees request earnings – and “for employer it’s no cost and no changes to your cashflow”. This is because Empala funds the advances. It has ambitions outside of Singapore as it is looking for sales staff in Vietnam to push its Southeast Asian ambitions. There are two co-founders, Eugene Bochkov (CEO) based in Singapore and Mark Aaju Larsen (CTO) located in Hong Kong. It appears – just like the recent story on Singaporean personal finance firm Moneko – they both met at start-up generator Antler. Bochkov is also the co-founder and CEO of Orbits Studio in Vietnam. That firm develops 3D, VR and AR solutions. Fintech Direct has contacted the duo for more details about funding, customers and their ambitions. Related Privacy Overview This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorised as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyse and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience. Our Privacy Policy is here .

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