InstaRem closes $13m Series B round, plans IPO in 2020

Prajit Nanu, Co-founder and CEO, InstaReM. Photo: DealStreetAsia

Singapore-based InstaReM, a digital cross-border payments company, has raised a $13 million Series B investment led by GSR Ventures, with participation from SBI-FMO Emerging Asia Financial Sector Fund (SBI-FMO Fund), Vertex Ventures, Fullerton Financial Holdings (FFH), and Global Founders Capital (GFC).

InstaReM has raised equity funding of $18 million in the last 18 months. Investment proceeds will be used to build its global payment infrastructure, which has grown eight times in volume since its March 2016 funding, as well as to develop new products and licensing activities in new markets.

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