SINGAPORE – Three more employees of homegrown fintech firm Embed Financial Group Holdings have lodged salary claims against the company, bringing the total number of claims to nine.
The Tripartite Alliance for Dispute Management (TADM) told The Straits Times that it received the additional claims between Sept 4 and Sept 23. All nine employees have reached agreements with the Singapore company on payment schedules following mediation by TADM.
TADM previously said that it had received six salary claims against Embed and was mediating the cases.
It is unclear if a former Embed employee who separately filed a claim with the Employment Claims Tribunals (ECT) is among the nine claimants.
The employee, Levinia, was a business development manager at Embed from February to July 2026, according to her LinkedIn profile.
ST understands that she later withdrew her ECT case and that Embed and Levinia have since undergone mediation over the dispute.
The tribunal, which comes under the State Courts, is designed to resolve salary-related and wrongful dismissal disputes quickly and affordably without needing a lawyer.
The Ministry of Manpower also previously said it is investigating Embed for possible offences relating to the non-payment of salaries under the Employment Act.
The salary claims come as the company faces separate action over unpaid CPF contributions.
Embed appeared in court on Sept 9 over its failure to pay CPF contributions for six employees for March. A prosecutor said the company owed $312,484 in CPF contributions, of which it had paid $300 at the time.
According to charge sheets seen by ST, EFGH failed to pay CPF contributions to its deputy group CEO, chief operating officer, former chief financial officer, and group head of strategic engagement, among others.
Embed representative Lynn Goon, group head of the CEO office, told the court that the company had secured funding from foreign investors and sought more time for agreements to be signed.
The court ordered Embed to pay $100,000 by its next hearing on Sept 30.
EFGH was founded in 2024 by Dennis Ng, its executive chairman and group chief executive who previously held senior roles at Prudential, Allianz and Citi.
The founding team also includes its deputy group CEO Eugene Leow, former senior media executive at Mediacorp and SPH Media, and chief growth and technology officer Dallas Ng.
The other two co-founders are based in Africa.
Earlier in 2026, EFGH was named partner for the BYD Singapore International Marathon in December and announced a five-year sponsorship partnership with the Singapore National Olympic Council.
EFGH also extended its sponsorship of the Tour de France Singapore Criterium for three more years after coming on board in 2025, with the race returning on Nov 7 and 8.
But the status of some of Embed’s other deals and partnerships remains unclear amid the salary and CPF payment issues.
Income Insurance said on Sept 8 that it terminated the proposed sale of Hive, its digital insurance platform, to Embed.
Income Insurance had said in June that it would sell Hive to EFGH for an undisclosed sum.
This meant EFGH would have owned 100 per cent of Hive, with Income Insurance remaining a customer of the platform.
In December 2025, Embed revealed its plan to list in the US by merging with a US-listed special purpose acquisition company (SPAC), in a deal valuing the company at about US$425 million (S$538 million).
The SPAC, WinVest Acquisition Corp, did not respond to queries from ST on the status of the proposed listing.
Singapore robotics technology company QuikBot Technologies announced a strategic partnership with Embed in March to integrate insurance into infrastructure used by autonomous machines.
QuikBot told ST that its “collaboration” with Embed is “not affected”.
Embed also appointed professional services firm Aon as its global insurance adviser in May. Aon did not respond to queries from ST on the status of its relationship with Embed.
That same month, Embed entered into a strategic partnership agreement with SimplyGo to explore developing a micro-insurance platform within the SimplyGo app.
SimplyGo is a subsidiary of the Land Transport Authority that was formed from a merger between EZ-Link and Transit Link to provide transit ticketing and travel card-related services in Singapore.
In response to ST’s queries, SimplyGo said it was aware of the reports concerning Embed and the developments surrounding the matter.
“We will continue to monitor developments as appropriate,” it added.
The Straits Times has contacted Embed for comment.
