About Instapay
Instapay is a company based in Kuala Lumpur (Malaysia) founded in 2017 by Rajnish Kumar. It operates as a FinTech, and Subscription Services. Instapay has raised $7.75 million across 2 funding rounds from investors including Spiral Ventures, Acai SG and TOP2. Instapay offers products and services including Digital Salary Account, Remittance Service, and Payroll Solutions. Instapay operates in a competitive market with competitors including MoneyGram, Western Union, InstaReM, Ascend Money and CarePay, among others.
- Headquarter Kuala Lumpur, Malaysia
- Founders Rajnish Kumar
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Instapay Technologies Sdn Bhd
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$7.75 M (USD)
in 2 rounds
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Latest Funding Round
$3 M (USD), Series A
Jun 18, 2025
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Investors
Spiral Ventures
& 2 more
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Employee Count
Employee Count
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Products & Services of Instapay
Instapay offers a comprehensive portfolio of products and services, including Digital Salary Account, Remittance Service, and Payroll Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Digital account for foreign workers with Mastercard included.
Fast and secure money transfer to home countries.
Seamless salary management for companies via e-wallets.
Funding Insights of Instapay
Instapay has successfully raised a total of $7.75M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $3 million completed in June 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $3.0M
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First Round
First Round
(23 Sep 2022)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2025 | Amount | Series A - Instapay | Valuation |
investors |
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| Sep, 2022 | Amount | Series A - Instapay | Valuation | ACA Investments |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Instapay
Instapay has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Spiral Ventures, Acai SG and TOP2. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity investment firm focused on growth stage companies
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Founded Year | Domain | Location | |
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Venture capital firm focusing on technology investments in Southeast Asia and India.
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Founded Year | Domain | Location | |
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TOP2 is engaged in connecting investors with entrepreneurs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Instapay
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Instapay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Instapay Comparisons
Competitors of Instapay
Instapay operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MoneyGram, Western Union, InstaReM, Ascend Money and CarePay, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
Provider of remittance services
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| domain | founded_year | HQ Location |
Cross-border money transfers are facilitated for individuals and businesses.
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| domain | founded_year | HQ Location |
Financial services platform for individuals
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| domain | founded_year | HQ Location |
Provider of a health insurance platform for global insurers
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| domain | founded_year | HQ Location |
P&C, insurtech, and embedded insurance services are provided by Boost.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Instapay
Frequently Asked Questions about Instapay
When was Instapay founded?
Instapay was founded in 2017 and raised its 1st funding round 5 years after it was founded.
Where is Instapay located?
Instapay is headquartered in Kuala Lumpur, Malaysia.
Who is the current CEO of Instapay?
Rajnish Kumar is the current CEO of Instapay. They have also founded this company.
Is Instapay a funded company?
Instapay is a funded company, having raised a total of $7.75M across 2 funding rounds to date. The company's 1st funding round was a Series A of $4.75M, raised on Sep 23, 2022.
What does Instapay do?
Instapay is operated as a financial technology company focusing on digital salary accounts for foreign workers in Malaysia. Services are provided in the financial sector, offering solutions like remittance, mobile top-ups, utility bill payments, and worldwide shopping through a Mastercard. The platform is designed to streamline payroll management for businesses while ensuring secure and user-friendly transactions for individuals. Expansion into markets like Indonesia and partnerships with entities such as Mastercard are noted as part of its growth strategy.
Who are the top competitors of Instapay?
Instapay's top competitors include MoneyGram, Western Union and InstaReM.
What products or services does Instapay offer?
Instapay offers Digital Salary Account, Remittance Service, and Payroll Solutions.
Who are Instapay's investors?
Instapay has 3 investors. Key investors include Spiral Ventures, Acai SG, and TOP2.