InstaReM closes USD 41 mln Series C funding round

Tuesday 19 March 2019 10:11 CET | News

InstaReM, a Singapore-based cross-border payments company, has closed its USD 41 million Series C funding round.

The company has attracted an additional USD 20 million investment in Series C round, led by Singapore-based Vertex Growth Fund (VGF) and supported by new investor, Atinum Investment.

This round takes InstaReM’s total funds secured to USD 59.5 million. According to the press release, the funding will be used to accelerate growth in existing and new markets, the company expecting to receive licences in Japan and Indonesia later in 2019. In addition, the company plans to open a regional headquarter in LATAM and launch a cards platform in multiple markets before the end of 2019.

The company’s payments platform makes it possible to send local ACH or real-time payments in over 50 countries, to issue virtual or physical cards in 25 countries, and collect payments for SMEs in 35 countries.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: InstaRem, cross-border payments, Singapore, ACH payments, instant payments
Countries: World

Industry Events