Three more Embed Financial employees file salary claims, bringing total to nine

The Tripartite Alliance for Dispute Management told ST that it received the additional claims between Sept 4 and Sept 23.

PHOTO: LIANHE ZAOBAO

Published Sep 25, 2026, 12:16 PM

Updated Sep 25, 2026, 02:53 PM

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 was a manager at Embed from February to July 2026, according to a public LinkedIn profile.

ST understands that the employee later withdrew the ECT case and have since undergone mediation with Embed 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.

三方争议管理联盟告诉《海峡时报》，他们在 9 月 4 日至 9 月 23 日期间收到了这些额外的索赔。

图片来源：联合早报

发布于 2026 年 9 月 25 日下午 12:16

更新于2026年9月25日下午2:53

新加坡——本土金融科技公司 Embed Financial Group Holdings 的三名员工向公司提出薪资索赔，使得索赔总数达到九起。

三方争议管理联盟（TADM）告诉《海峡时报》，他们在9月4日至9月23日期间收到了这些额外的索赔。在TADM的调解下，所有九名员工都与这家新加坡公司就付款时间表达成了协议。

TADM此前表示，已收到针对Embed的六起薪资索赔，目前正在调解这些案件。

目前尚不清楚曾单独向就业索赔法庭 (ECT) 提出索赔的 Embed 前雇员是否属于这九名索赔人之一。

根据公开的 LinkedIn 个人资料显示，该员工于 2026 年 2 月至 7 月在 Embed 担任经理。

ST 了解到，该员工后来撤回了 ECT 案件，并已就该争议与 Embed 进行了调解。

该仲裁庭隶属于州法院，旨在快速、经济地解决与薪资相关的纠纷和不当解雇纠纷，而无需律师介入。

人力部此前也表示，正在调查 Embed 公司是否违反了《雇佣法令》中关于未支付工资的条款。

在公司面临未缴纳公积金的另一项诉讼之际，又出现了薪资索赔问题。

Embed公司因未缴纳六名员工3月份的公积金（CPF）缴款，于9月9日出庭受审。检察官称，该公司拖欠公积金312,484新元，当时仅缴纳了300新元。

据《海峡时报》看到的起诉书显示，EFGH 未能向其副集团首席执行官、首席运营官、前首席财务官和集团战略合作主管等人缴纳公积金。

Embed 代表、CEO 办公室负责人 Lynn Goon 向法庭表示，该公司已从外国投资者那里获得资金，并寻求更多时间来签署协议。

法院命令 Embed 在 9 月 30 日的下次听证会之前支付 10 万美元。

EFGH 由其执行主席兼集团首席执行官 Dennis Ng 于 2024 年创立，他此前曾在保诚、安联和花旗担任高级职务。

创始团队还包括副集团首席执行官 Eugene Leow（曾任新传媒和新加坡报业控股媒体高级主管）以及首席增长和技术官 Dallas Ng。

另外两位联合创始人居住在非洲。

2026年初，EFGH被指定为比亚迪新加坡国际马拉松的合作伙伴，并于12月宣布与新加坡国家奥林匹克理事会建立为期五年的赞助合作关系。

EFGH 还将其对环法自行车赛新加坡绕圈赛的赞助期限延长了三年，从 2025 年开始，该赛事将于 11 月 7 日和 8 日回归。

但由于薪资和公积金支付问题，Embed 的其他一些交易和合作关系的状况仍然不明朗。

Income Insurance 于 9 月 8 日表示，已终止将其数字保险平台 Hive 出售给 Embed 的拟议交易。

Income Insurance 曾在 6 月份表示，将把 Hive 出售给 EFGH，但未透露具体金额。

这意味着 EFGH 将拥有 Hive 100% 的股份，而 Income Insurance 仍将是该平台的客户。

2025 年 12 月，Embed 公布了其在美国上市的计划，即通过与一家在美国上市的特殊目的收购公司 (SPAC) 合并，在该交易中，该公司的估值约为 4.25 亿美元（5.38 亿新元）。

SPAC公司WinVest Acquisition Corp没有回应ST关于拟议上市状态的询问。

新加坡机器人技术公司 QuikBot Technologies 于 3 月宣布与 Embed 建立战略合作伙伴关系，将保险整合到自主机器使用的基础设施中。

QuikBot 告诉 ST，它与 Embed 的“合作”“不受影响”。

Embed于5月委任专业服务公司怡安集团(Aon)为其全球保险顾问。怡安集团未回复《海峡时报》关于其与Embed合作关系的问询。

同月，Embed 与 SimplyGo 达成战略合作协议，探索在 SimplyGo 应用内开发微型保险平台。

SimplyGo 是新加坡陆路交通管理局的子公司，由 EZ-Link 和 Transit Link 合并而成，旨在为新加坡提供交通票务和旅行卡相关服务。

针对《海峡时报》的询问，SimplyGo 表示，他们已经注意到有关 Embed 的报道以及围绕此事的进展。

声明还补充道：“我们将继续酌情关注事态发展。”

《海峡时报》已联系 Embed 征求意见。