Instapay Raises $3M to Boost Fintech Access for Migrant Workers
Fintech company Instapay Technologies, which provides mobile financial services tailored to migrant workers and unbanked populations, has reportedly raised $3 million in a Series A2 funding round aimed at scaling its regional growth and product innovation.
This follows Instapay’s earlier $4.75 million Series A round in 2022, led by Daiwa ACA APAC Growth I and Spiral Ventures Asia.
The new investment is expected to support Instapay’s efforts to enhance financial inclusion in underserved markets across Southeast Asia.
Instapay offers a user-friendly mobile wallet paired with a prepaid Mastercard, enabling secure access to salary payments, money transfers, bill payments, and retail transactions all without the need for a traditional bank account.
In early 2025, the company expanded into Indonesia through a strategic collaboration with Amar Bank. It then partnered with Mastercard Move to improve the speed and affordability of international remittances for Malaysia’s migrant workforce.
An investor familiar with the round commented, “Instapay is solving one of the region’s biggest financial inclusion challenges with a solution that is agile, scalable, and compliant.”
With the new capital, Instapay plans to:
- Grow its user base in Malaysia and Indonesia
- Strengthen compliance, licensing, and regulatory infrastructure
- Introduce real-time payment and micro-savings tools
- Deepen partnerships to enhance cross-border payment efficiency
- Expand its team and technical capacity
