Instarem gets a new look as growth accelerates
Instarem, a Singapore-based cross-border payment company, has rebranded as it tries to expand its services.
Rebrand for Instarem
Instarem unveiled a major rebrand that saw the firm tweak its logo, website, and mobile applications. The new changes are only visible to users in Singapore ahead of a global launch later this quarter. In addition to this, the firm said that it would soon launch a new consumer debit card as it expands its offerings.
For starters, Instarem is a diversified fintech company that enables customers to send money to tens of countries globally. It currently allows payments to 14 Asian countries including Bangladesh, Nepal, Indonesia, and South Korea.
In Europe, it supports 14 countries like the UK, Portugal, and Spain. Other countries it accepts are the United States, Canada, and Australia. It is also regulated in 9 jurisdictions like Australia and Singapore.
Through its platform, users just need to deposit money and send to their loved ones through the website or mobile apps. The transaction costs between 0.25% and 1% of the funds they are sending. Commenting on the rebrand, Instarem’s CEO said:
“Our new identity reflects our belief that money should not be disconnected – it should be simple – and our enhanced offerings bring this belief to life. Our new look better represents who we are today – current, innovative, and global.”
Instarem has been growing
Like other fintech companies, Instarem has been on a strong growth path recently. It processes more than $6 billion annually and has more than 130 million customers. This growth was helped by the firm’s $59 million of capital from venture capitalists and its operating cash flow. Some of the existing investors are Visa, Ripple, and Vertex Growth Fund.