Singapore, Hong Kong and Malaysia, May 3 2018 – Swingvy, a SaaS HR company, announced today it has closed a bridge financing round from Aviva Ventures, the corporate venture capital arm of international insurer Aviva plc. This is Aviva Ventures’ third investment in Asia, as it looks to partner with innovative companies that have the potential to transform the insurance industry.
Swingvy is a SaaS company that seamlessly connects and automates HR, payroll and employee benefits on one platform. It allows businesses to manage the three functions independently with greater flexibility, convenience, and significant savings in cost and time. Focused on a mobile-first offering, Swingvy has developed a mobile app to ensure users have access to HR matters anytime, anywhere, while on the go.
The platform is designed to be intuitive and easy-to-use for everyone, particularly suitable for small-and-medium enterprises (SMEs) in Asia. The stark contrast to manual processes and legacy systems currently used in many SMEs’ HR function implies a huge potential for demand.
Swingvy is a freemium platform, which drives it to pursue continual innovation and improvement. Its HR module is free, and clients only need to subscribe to a pay-as-you-use fee for advance features such as payroll and employee benefits management. Particularly favoured by SMEs, Swingvy currently serves over 2,500 businesses and 60,000 users across Singapore, Malaysia and Korea.
Jin Choeh, Co-Founder and CEO at Swingvy said, “At Swingvy, we believe people are the most important asset of any business, and do their best work when they feel empowered. Southeast Asia holds tremendous opportunity for us as many of its 70 million SMEs have strong demand for a cost and time efficient HR solution that is easy to use. Our vision is to enable all SME business owners to put their people first with the help of Swingvy’s integrated and seamless HR and benefits solution. We are thrilled to have Aviva’s support and look forward to tapping their expertise in digital customer experience and insurance as we continue to improve our offering.”
Fernand Lendoye, Managing Director at Aviva Ventures, said, “Swingvy has created a compelling and scalable platform that helps business owners and entrepreneurs accelerate their transition into the digital economy. I believe this investment and future collaboration with Aviva will strengthen Swingvy’s market position in a region where HR Tech and InsurTech are still nascent.”
In its relentless pursuit of improving its offering to customers, Swingvy is looking to extend its partnership with Aviva beyond this investment. Future collaboration will focus on creating new propositions for its business users in Singapore as Swingvy continues to evolve and redefine the convergence between HR Tech and InsurTech.
Swingvy is an all-in-one Digital HR platform for small and medium businesses. Founded by Jin Choeh and Tho Kit Hoong in 2016, Swingvy aims to revolutionise and transform HR practices in Asia-Pacific countries. Everything we do is centered around one core belief: people are at the heart of a great business. With this in mind, our mission is to empower and propel people to do their best at work by seamlessly connecting and automating all HR information – HR, Payroll and Employee Benefits – in one place. Thousands of businesses use Swingvy today to empower their employees and stay compliant. For more information about Swingvy, please visit: https://www.swingvy.com/about-us
About Aviva Ventures
Aviva Ventures, the corporate venture capital fund of Aviva plc, aims to invest £100m by 2020 in early stage businesses worldwide. With offices in UK and Singapore, Aviva Ventures targets investments in digital and technology companies operating in four areas: ‘the internet of things’ including connected homes, health and automotive; data and analytics; innovative customer experiences; and distribution such as new ‘sharing economy’ platforms. For more information about Aviva Ventures, please visit https://www.aviva.com/about-us/aviva-worldwide/aviva-ventures/