Here's JiPay! This isn't your average fintech. They focus on migrant domestic workers. Now, they've just raised a $1.3M seed led by East Ventures.

• They recently hit $1M in card spending and have grown transaction volume over 10x in the past six months.

Who cashed in? SHL Capital, Manila Angel Network and Shivaas Gulati (Co-founder, Remitly) joined in.

‍

💵  Money matters

JiPay allows families (employers) to give their domestic helpers a prepaid Mastercard to buy groceries, supplies, and more.

What's the situation? Domestic helpers often have to keep asking for cash, keep receipts and report expenses and carry around loose change. It's a hassle for both helpers and employers!

• This leaves room for money disputes, like lost cash and misreporting that create distrust between helpers and employers.

‍

💳  Trade cash for card

Helpers' prepaid cards are connected to the JiPay app, allowing employers both transparency and convenience.

• It's all about helping families manage money better, so JiPay even has a version of the card for kids.

Easy top up. Forget heading to the ATM! Easily top up the debit card for your helper.

Spend anywhere. If the business doesn't take cards, helpers can use the PayNow feature to pay merchants.

• Even earn cashback when they spend at partner merchants.

Transparency. Both you and your helper can view the card's transaction history and balance, and you can also get notifications for any transactions.

Analytics. Check spending analytics in-app and generate weekly spending reports.

‍

💰 What's with the $$$?

The next step is to launch a personal finance product for helpers, starting with a personal account where they can receive money, save and even remit money to their families back home.