Singapore fintech startup Instarem closes $41M Series C for global growth
Summary
Singapore’s Instarem, a fintech startup that helps banks and consumers send money overseas at lower cost, has closed a $41 million Series C financing round to go after global expansion opportunities. The four-year-old company announced a first close of $20 million last November, and it has now doubled that tally (and a little extra) thanks to an additional capital injection led by Vertex Ventures’ global growth fund and South Korea’ Atinum Investment. Today, it covers 50 countries and it has offices in Singapore, Mumbai, Lithuania, London and Seattle. That’s been a consistent talking point for Nanu, who has been fairly outspoken on his desire to take the company public. As TechCrunch revealed last year, Instarem declined a buyout offer from one of Southeast Asia’s tech unicorns.