Instapay Technologies Sdn Bhd announced the successful  completion of a Series A2 funding round of USD3Mn (MYR13 Mn). This round has been led by a  group of U.S. based family offices and saw continue participation from our existing investor ACA  Investments Pte Ltd, a Singapore-based Japanese investment firm, reaffirming their commitment  to Instapay’s vision and growth trajectory. 

Rajnish Kumar, CEO, Instapay, said “We are excited to close the current funding round. This will  help us manage the working capital needs of our growing business. We are a profitable and cash flow positive company, but this additional funding will accelerate our growth in our fast-growing  remittance business. We are also starting 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.” 

“We have seen more than 10X growth in Instapay topline from about 3 years when we first  invested and the Company became profitable alongside this strong topline growth” said Hajime  Adachi, Partner, ACA. “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.”  

With this new funding, InstaPay plans to expand its product offerings and geographical footprint,  bolster its technological infrastructure, and support continued innovation in cross-border  payment capabilities.