Advance, a Philippines-based fintech startup that provides a salary on-demand platform, announced that it has acquired Vietnam-based HR tech startup BravoHR.

DealStreetAsia reports that Advance has also raised a total of USD 16 million in pre-Series A funding with the funding round led by Do Ventures and Lendable.

With the funding, Advance is expanding into Vietnam with the acquisition of BravoHR.

Launched in 2018, BravoHR provides digital solutions for staffing, employee benefits and rewards. According to TechinAsia, BravoHr already provides services to thousands of employees at companies such as McDonald’s, L’Oreal, and AstraZeneca.

In 2020, BravoHR raised an undisclosed amount in seed funding from Zone Startups Vietnam and 1005 Ventures.

Advance also announced that it plans to introduce more innovative financial products and offer its services to more businesses in the Philippines and Vietnam, according to e27.

Since 2018, Advance has provided salary advances and other financial services to underserved employees in the Philippines, where almost half of the population remains unbanked. The Advance platform allows employees accessible access to a portion of their salaries through a flexible credit line.

Further financial details were not disclosed.