Instapay Secures USD 3 Million Series A2 Funding
Instapay has recently closed a Series A2 funding round, raising $3 million. This investment was led by a group of US-based companies alongside ACA Investments Pte Ltd.
The digital payment platform Instapay focuses on reducing transaction costs and enhancing financial access for underbanked individuals and small to medium-sized enterprises (SMEs). It offers e-wallets and Mastercards as payroll solutions, catering specifically to low-income and unbanked migrant workers who receive their salaries digitally.
The e-wallets allow for cross-border remittances, bill payments, and mobile top-ups. Meanwhile, the Mastercard can be used globally for purchases and ATM withdrawals.
With this new funding, Instapay intends to expand its product range and geographical reach. The company also plans to upgrade its technological infrastructure and continue innovating in cross-border payment solutions.
The additional capital will support the business expansion by meeting working capital needs. This further accelerates growth in the dynamic remittance sector. Additionally, Instapay aims to launch B2B remittance services through the Glyd Corporate Expense Management Platform.
Previous Partnerships and Innovations
In April 2025, Instapay partnered with Mastercard to enhance cross-border payment capabilities for customers in Malaysia. This collaboration enabled migrant workers living in Malaysia to transfer funds back to their home countries in local currencies almost instantly.
This partnership leveraged Mastercard Move, which provided a suite of money movement features to facilitate person-to-person and business transactions across more than 180 countries and over 150 currencies. Major sources of Malaysia’s migrant workforce included Indonesia, Nepal, Bangladesh, India, the Philippines, and Pakistan.
With Mastercard Move, Instapay’s users from these regions could easily transfer funds to bank accounts, digital wallets, or cash pickup locations while also monitoring payments, fees, and estimated delivery times.