Indian-promoted fintech firm InstaRem raises $13 mn in round-3 fundraising

World Bank lists it among the most cost-efficient money transfer platforms across the world

InstaRem, one of Asia-Pacific's (APAC’s) leading digital cross-border payments company, has just received a $13-million investment, led by GSR Ventures, with participation from SBI-FMO Ventures, Vertex Ventures, Fullerton Financial Holdings (FFH), and Global Founders Capital (GFC).  

Mumbai-based Prajit Nanu is one of the co-founders at InstaRem. An erstwhile global sales director of TMF Group and vice president- sales and account management at WNS, he partnered with Michael Bermingham to set up InstaRem in 2014, the company said in a statement.

InstaRem is a Singapore-headquartered cross-border payments company. Founded in 2014, InstaRem is licensed as a Money Services Business (MSB)