Instarem is a Singapore-based provider of innovative cross-border payment solution for retail and enterprise clients. Cross-border money transfers and transactions have been a costly and cumbersome process, with senders unable to ascertain the total cost and time needed to complete the process. Instarem streamlines the process of sending and settling cross-border payment through its technology platform to provide a transparent, secure and cost-efficient experience for its retail and enterprise clients.
InstaReM’s mechanism shortens the payment processing, settlement, and reconciliation that commonly takes days in the conventional system, to a matter of seconds. It also provides transparency in term of cost and time involved in the process. With collection capability in 35 countries and payout capability in more than 55 countries, Instarem has facilitated billions of transactions globally – especially in key remittance markets such as India, Malaysia, and Hong Kong.
Vertex Growth led the Final Close of Instarem’s US$41 million Series C round of fundraising. Other new investors participated in the Series C round includes Atinum Investments, MDI Ventures and Beacon Venture Capital, the venture arm of Thailand’s Kasikornbank. Existing investors such as Vertex Ventures, GSR Ventures, Rocket Internet and the SBI-FMO Fund participated in the round. Proceeds from the funding will be used to expand Instarem’s presence into new geographies, strengthen the company’s position in key markets, develop new products and improve Instarem’s user experience.
For more details, please see the news release on DealStreetAsia, Tech in Asia, and The Business Times at the following links: