Strategic investment led by Lion X and Holborn Capital Partners, alongside funding partnership with CapBay to fuel Setlary’s regional Asian expansion.

KUALA LUMPUR, 2 DECEMBER 2025 – Setlary, Malaysia’s leading Earned Wage Access (EWA) platform, today announced a strategic investment round valuing the company at RM 100 million. The funding, led by Lion X and Holborn Capital Partners, will be used to accelerate Setlary’s regional Asian expansion into new markets and enhance its comprehensive financial wellness platform.

Alongside the new strategic investors, CapBay will also provide additional funding firepower given its unique access to alternative capital. Collectively, the group of investors will provide a funding capacity of up to USD 25 million to grow and scale up Setlary’s customer portfolio.

This investment directly addresses the growing demand for corporations to fulfill the 'S' (Social) in their ESG mandates. Setlary’s platform provides a tangible, zero-cost solution for employers to improve employee financial well-being, which has been directly linked to higher staff retention and better hiring.

“The investors provide more than just capital; it’s a strong vote of confidence in Setlary’s mission to transform the financial wellbeing of workers,” said Charles Chew, Co-Founder of Setlary. "This strategic push ensures more employees will be able to access their earned income early and also access Setlary’s Wellness programs which will ensure long-term financial stability. Setlary’s main goal is to make Everyday your Payday".

“Lion X Ventures is pleased to support Setlary as they build responsible and scalable earned-wage access infrastructure across Southeast Asia. We believe their technology, operational discipline, and employer-first model position them to deliver meaningful financial wellness benefits to workers while helping enterprises improve productivity and retention. Setlary demonstrates strong alignment with our investment thesis in the future of work and embedded financial services.”said Irene Guo, CEO, Lion X Ventures

“At Holborn Capital Partners, we invest in businesses with the capability to scale sustainably and deliver real-world outcomes. Setlary’s disciplined operating model and clear value proposition for employers and employees make it a strong fit for our portfolio and our long-term partnership approach.” said Ong Sheng Jie, Executive Director, Holborn Capital Partners

“Setlary’s platform helps employees’ short-term cash needs by allowing them to access their earned wages, while helping them to balance that with their long-term financial wellness.

As they expand regionally, CapBay is proud to support Setlary with structured financing and robust risk frameworks, ensuring that earned wage access is delivered in a sustainable, compliant, and responsible manner at scale,"said Ang Xing Xian, Chief Executive Officer of CapBay.

About Setlary

Setlary is Malaysia’s leading Earned Wage Access (EWA) solution, enabling employees to access their earned income before month-end payday — promoting financial stability and reducing reliance on high-interest loans. With a zero-cost model for employers and a mission to build financially resilient communities, Setlary is redefining the future of employee financial wellness.

Setlary has officially extended its presence beyond Malaysia, marking a significant regional milestone with operations now established in Indonesia, Singapore, and Thailand. The company is also gearing up to expand its footprint across new Asian markets in the near future.

About Lion X

Lion X Ventures is a dynamic, forward-thinking venture capital fund based in Singapore, and advised by OCBC Bank. With a mission to promote digital innovation in Southeast Asia, the firm focuses on opportunities in fintech, productivity infrastructure, and digital transformation. Beyond capital, Lion X provides deep market insight, regional networks, and hands-on strategic engagement to help companies navigate scale across Asia Pacific. Lion X partners with teams who demonstrate strong execution, integrity, and long-term ambition.

About Holborn Capital Partners

Holborn Capital Partners is a Kuala Lumpur–based private equity firm specialising in growth-stage and transformative investments across Southeast Asia. The firm focuses on innovation-driven sectors and partners closely with founders to scale businesses with strong regional potential. Leveraging deep operational expertise, strategic insight, and an extensive cross-border network, Holborn Capital Partners provides both capital and active value-creation support to help portfolio companies accelerate sustainable growth and achieve long-term impact.

About CapBay

CapBay is an award-winning Multi-Bank Supply Chain Finance and P2P Financing platform, regulated by the SC, helping SMEs unlock cash flow through innovative financing. Using a proprietary credit-decisioning model, we connect businesses to banks and investors for high-quality financing opportunities. Since 2017, CapBay has disbursed over RM4.7 billion (US$1.1B), supporting 2,300+ SMEs. We are globally recognized as one of CNBC’s World’s Top Fintech Companies (2023–2025), Fortune’s Fintech Innovators Asia 2024, and among the FT High-Growth Companies Asia-Pacific (2024 & 2025).

ESG in Action: Setlary's RM100 Million Boost to Champion Employee Financial Wellness