Setlary
Setlary is an Essential Wage Access provider operating across Southeast Asia, enabling employees in Malaysia, Singapore, Indonesia, and Thailand to access earned wages before scheduled payday through locally incorporated entities under Mighty Capital Holding Pte Ltd.
- Company typePrivate
- Founded2024
- HeadquartersJakarta, Indonesia
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Setlary does
Setlary is an Essential Wage Access (EWA) provider that enables employees in Southeast Asia to access portions of their earned wages before scheduled payday. The company's single product offering addresses the financial flexibility needs of workers who face timing gaps between pay cycles, positioning flexible and reliable wage access as its functional value proposition. The company serves a horizontal segment of employees across the region rather than industry-specific verticals.
The company operates through a multi-jurisdiction corporate structure covering four Southeast Asian markets: Set Gaji Sdn. Bhd. in Malaysia, Setlary Pte Ltd in Singapore (functioning as the headquarters and group anchor), PT Setlary Indonesia Nusantara in Indonesia, and Setlary (Thailand) Co., Ltd in Thailand. All entities are consolidated under Singapore-based holding company Mighty Capital Holding Pte Ltd, which is publicly credited as the parent and capital backer of the group. Setlary self-describes as the No. 1 Essential Wage Access provider in Southeast Asia, a positioning claim that is not corroborated by third-party market share data in the available input.
No revenue model, pricing, employer integration, employer-side distribution channel, employer partner logos, headcount, funding history, or management team information is disclosed in the available source material. There is no public mobile app, no API offering, no AI/ML capability referenced, and no patents or certifications listed. As a result, the underlying economic mechanics of how Setlary monetizes wage access (e.g., per-transaction fee, employer SaaS fee, interchange, or employee subscription), its operational scale, and the depth of its employer-side distribution network remain unverified.
Setlary firmographics
Firmographics- Name
- Setlary
- Legal name
- Setlary
- Website
- https://setlary.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Setlary is an Essential Wage Access provider operating across Southeast Asia, enabling employees in Malaysia, Singapore, Indonesia, and Thailand to access earned wages before scheduled payday through locally incorporated entities under Mighty Capital Holding Pte Ltd.
- Ownership category
- akta.pro rank
Setlary industry classification
Industry- Product category
- Earned Wage Access
- akta.pro primary industry
- Instant Payouts & Earned Wage Access (EWA) (FSAMAKAM)
- akta.pro secondary industry
- Pay Card Programs & Earned Wage Access (EWA) Administration (BPACAIAK)
Keywords
Where Setlary is headquartered
LocationHeadquarters
- HQ city
- Jakarta
- HQ country
- Indonesia
- HQ region
- Asia
Offices4 records
Markets served
Setlary business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Setlary product offering
Product offeringCore offering
Setlary provides Essential Wage Access solutions that enable employees/workers in Southeast Asia to access a portion of their earned wages before the scheduled payday. The service is delivered through a unified web platform and operates across four Southeast Asian markets via dedicated local legal entities, positioned as the No. 1 Essential Wage Access provider in the region.
Product overview
Setlary is a single unified product platform offering Essential Wage Access solutions across Southeast Asia. The company operates through regional entities in Malaysia (Set Gaji Sdn. Bhd.), Singapore (Setlary Pte Ltd), Indonesia (PT Setlary Indonesia Nusantara), and Thailand (Setlary (Thailand) Co., Ltd), all under the Setlary brand and powered by Mighty Capital Holding Pte Ltd.
Differentiator
Problem solved
Functional benefit
Products and services
- Essential Wage Access Essential Wage Access is Setlary's flagship offering that provides flexible and reliable access to earned wages before the scheduled payday for employees and workers in Southeast Asia. The product is delivered through a unified digital platform (setlary.com) and operated across Malaysia, Singapore, Indonesia, and Thailand via country-specific entities.
Companies that use Setlary
Customer profileSegments1 record
Ideal customer profiles2 records
Setlary technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Setlary partnerships and signals
Strategic signalScale indicators1 record
Recent moves5 records
Expansion highlights3 records
Setlary competitors and assessment
Company assessmentRegional players
- Gravel (Indonesia payroll): Indonesia-based payroll and HR-tech platform. Comparable regional payroll partner/competitor for embedding EWA in the Indonesian market, one of Setlary's four core geographies.
- Gadjian: Indonesia-based payroll and HR platform serving SMEs. Regionally comparable to part of Setlary's value chain (payroll-adjacent services) and a potential partner or competitor for embedding EWA into Indonesian payroll.
- Payruler: Singapore-headquartered payroll software provider serving SMEs across SEA. Comparable as a regional payroll infrastructure player that could integrate or compete with EWA offerings in Setlary's core markets.
Direct peers
- Wagestream: UK-headquartered Earned Wage Access provider offering employees early access to earned wages via employer partnerships. Directly comparable to Setlary as a pure-play EWA platform, though operating primarily in the UK, Europe, and select US/APAC markets.
- Even (Neighborly): US-based EWA and budgeting platform offered through employer partnerships. Directly comparable to Setlary in product and target employee population, with a comparable B2B2C distribution approach.
- ZayZoon: Canada-based EWA provider servicing small and mid-sized employers in North America. Comparable to Setlary as a focused EWA platform targeting the workforce segment via employer integrations.
- Earnin: US-based EWA app letting users access accrued wages before payday. Directly comparable to Setlary's core EWA offering, though primarily consumer-direct rather than employer-anchored.
- PayActiv: US-based EWA and financial wellness platform integrated with employer payroll systems. Closely comparable to Setlary in core product (earned wage access) and employer-distribution model, and a useful benchmark for SEA expansion economics.
- DailyPay: US-based EWA provider partnering with large employers to deliver on-demand pay. Comparable to Setlary on core functionality and employer-channel model, with global expansion ambitions relevant to Setlary's SEA strategy.
Emerging players
- Reframe Money: Early-stage EWA and financial wellness player in the UK focused on helping employees access wages and manage finances. Comparable core product to Setlary but at an earlier stage and in a different geography.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Setlary social profiles
Digital presenceSetlary financial estimates
Financial estimateRevenue estimate
Valuation estimate
Setlary leadership team
Management profileNumber of profiles
Setlary funding detail
Funding detailFunding overview
Funding rounds1 record
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Setlary M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Setlary
What does Setlary do?
Setlary provides Essential Wage Access solutions that enable employees/workers in Southeast Asia to access a portion of their earned wages before the scheduled payday. The service is delivered through a unified web platform and operates across four Southeast Asian markets via dedicated local legal entities, positioned as the No. 1 Essential Wage Access provider in the region.
Is Setlary a public or private company?
Setlary is a private company. It is classified as corporate owned and is currently operating.
When was Setlary founded?
Setlary was founded in 2024. It employs 11 to 50 people.
Where is Setlary based?
Setlary is headquartered in Jakarta, Indonesia, in the Asia region.
Who are Setlary's main competitors?
Regional players on record are Gravel (Indonesia payroll), Gadjian and Payruler. Direct peers are Wagestream, Even (Neighborly), ZayZoon, Earnin, PayActiv and DailyPay. Reframe Money is listed as an emerging player.
Does Setlary have an API?
No public API is recorded for Setlary.
What industry is Setlary in?
Setlary's product category is Earned Wage Access. Its primary akta.pro industry code is FSAMAKAM, Instant Payouts & Earned Wage Access (EWA), with a secondary code of BPACAIAK, Pay Card Programs & Earned Wage Access (EWA) Administration.