Malaysian FinTech firm Instapay Technologies has successfully closed a $3m Series A2 funding round, backed by a consortium of US-based family offices and existing investor ACA Investments, a Japanese investment firm headquartered in Singapore.
This fresh capital injection will support Instapay’s efforts to expand its product suite and enter new markets, according to a report from TNGlobal.
Instapay CEO Rajnish Kumar said, “We are also starting business to business (B2B) remittance within our Glyd Corporate Expense Management Platform and this additional funding will enable us to innovate and grow faster. We are grateful to our existing shareholders including Daiwa ACA for their continued faith in our business.”
The confidence from investors is supported by Instapay’s impressive growth trajectory. ACA partner Hajime Adachi said, “With the new initiatives in the core foreign workers payroll and remittance business as well as the plans to launch B2B Remittance under the Glyd Business Platform, we see Instapay continuing to grow rapidly for the next few years.
“It’s at a very interesting point in its journey with all licenses in place and supported by a strong business momentum.”
Instapay’s platform is tailored to the financial needs of workers in Malaysia, providing a mobile-linked Mastercard for seamless salary disbursements. The solution is regulated by Bank Negara Malaysia and promotes both payroll efficiency and financial inclusion for underserved populations.
Operating in Malaysia—a key destination for low-skilled migrant workers from across South Asia—Instapay is focused on helping employers manage payroll in a compliant and inclusive manner. At the same time, it aims to integrate workers into the digital economy, offering them secure and convenient ways to receive wages, make purchases, and send money home.
Source: https://fintech.global/
