Instapay raises $3m to expand digital payments and B2B remittances

By Vriti Gothi

Instapay Technologies, a Malaysian FinTech platform focused on inclusive financial services and digital payments, has raised $3 million in its Series A2 funding round.

The funding follows Instapay’s $4.75 million Series A round in September 2022, showing continued investor confidence and steady business growth.

Instapay will allocate the new capital to expand its digital product suite, cross-border payment infrastructure, and enter new regional markets. A key focus will be on scaling its foreign worker payroll ecosystem, a segment vital to financial inclusion in Malaysia, and advancing its Glyd Corporate Expense Management platform through the rollout of B2B remittance capabilities.

The round was led by a consortium of U.S.-based family offices, with continued support from ACA Investments, a Singapore-based Japanese investment firm and existing shareholder.

Rajnish Kumar, CEO of Instapay, said, “We are thrilled to close this latest funding round, which comes at a pivotal moment in our growth journey. While we are already profitable and cash flow positive, this strategic injection of capital allows us to fast-track innovation and scale operations in our high-growth remittance business. Our Glyd platform is set to redefine B2B cross-border expense management, and this investment strengthens our ability to deliver a seamless, compliant, and user-centric experience.”

The Glyd platform, designed for enterprises, offers automated expense management, real-time payroll disbursement, and now, secure, compliant cross-border transfers, helping businesses manage workforce-related payments more efficiently.

Hajime Adachi, Partner at ACA Investments, said, “Since our initial investment, Instapay has achieved more than tenfold growth in topline revenue and reached profitability, a rare feat among early-stage FinTechs. With a full suite of regulatory licenses and robust momentum across its core verticals, Instapay is ideally positioned to lead in both consumer and enterprise FinTech across Southeast Asia.”

Instapay is now charting a roadmap that includes regional partnerships, expanded regulatory engagement, and further Shariah-compliant service enhancements.