Advasa Holdings, which provides earned wage access software to employers in Japan, filed on Tuesday with the SEC to raise up to $9 million in an initial public offering.
Advasa Holdings is a financial technology company that develops and licenses earned wage access (EWA) systems, enabling employees to access accrued wages prior to scheduled payday. Its platform integrates with employer payroll and timekeeping systems to calculate available earned wages and facilitate disbursement through bank accounts, digital wallets, or prepaid cards. The company also provides OEM services and monetizes a portfolio of domestic and international patents related to EWA technology. It currently serves 12 clients (10 EWA, 1 OEM, and 1 system maintenance) primarily in Japan, and is preparing to expand into additional markets in Asia and the Middle East.
The Tokyo, Japan-based company was founded in 2017 and booked $22 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol ADBT. Advasa Holdings filed confidentially on September 5, 2025. Spartan Capital Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
