In a world where financial security is increasingly hard to come by, Paisa is helping UAE residents get their hands on up to 50% of their salaries as they earn them.
Dubai-based startup Paisa is a new platform for employees to receive access to their salaries as they work, allowing workers to enjoy the benefits of monthly salary payments without having to wait for those paychecks to come in. People are constantly faced with unexpected expenses or struggled to make ends meet, this app might be exactly what the region needs—and it’s available now.
Paisa has successfully closed its pre-seed funding round at 200,000 USD with a number of top investors within the region. With an incredibly simple process, employers just contact Paisa to onboard the application, every employee then gets their account information and downloads the app. Once logged in, employees can see their earnings update live at the end of each working day. Paisa is changing the way employees get paid, allowing them to get their salary when they need it and as they earn it. The UAE is one of many countries in the world that pays employees on a 30-day pay cycle, for those without access to lines of credit it can make it almost inevitable that they will have to live paycheck to paycheck.
Founded by Rishabh Java, a 20-year-old serial inventor and builder. Featured in publications such as Khaleej Times and The National since the age of 14. Winner of numerous awards such as being the Young Scientist Award, was the Grade Prize winner at the Business Challenge, and was a finalist at the Global Innovation Competition 2020 judged by Steve Wozniak. Rishabh was raised in the UAE and witnessed firsthand the effects of a 30-day pay cycle and no access to lines of credit within his family. Whilst always ambitious Rishabh always had Paisa in his mind. It was a dream of his to be able to provide to those what he had hoped would already exist when his family needed it, a service that is bank agnostic, simple to use, private, and ultimately creates financial freedom by eliminating financial insecurity.
On September 19th, Paisa launched with it’s first company, Burger28, one of the premier dining destinations for Dubai residents. The launch of Paisa saw the first steps of Rishabhs dream come to fruition as Paisa onboarded its first employees at the Burger28 Nad Al Hamar branch.
“Financial freedom should not be something limited to the 1% of the world, by allowing employees access to their money as they’ve earned it
Paisa provides them with stability and security. This is just the first day on Paisa’s journey to providing employees with the financial freedom they deserve, it won’t be long until the entire region is getting their salary on their terms. So it’s simple, if someone wants their salary early, just get Paisa.” -Rishabh Java, Paisa Founder & CEO
Paisa’s mission is to help companies build financially healthier environments within their workplaces, and allow employees to live financially healthier lives. Research by top publications such as Visa and PWC has shown that earned wage access can not only boost employee productivity, but also decrease HR workload, increase talent acquisition and retention, and ultimately give any business the edge it was missing.