InstaReM (IE instant remittance), a Singapore-headquartered fintech start-up that convenient, fast and cost-effective cross-border money transfers to individuals and businesses, announced on Wednesday its 2017 progress and 2018 goals. CEO and Co-Founder, Prajit Nanu, took to the company’s blog to reveal details about the past twelve months of progress:
“Thanks to your constant support, InstaReM is getting noticed on the right platforms. In 2017, we received multiple accolades including Singapore Fintech Festival 2017 & India Fintech Awards 2017. We switched to Real-Time rates in September 2017. No more margins on FX rates and no hidden costs, which are so typical of the remittance industry. With us, you get the same rates that you see on Reuters and Google. Period. We continue to get a big thumbs up from our customers for our move.”
Nanu also spoke about what the company is looking to see in 2018:
“Your remittance experience with us is the most important metric of our success. We realized that we needed to upgrade our tech platform to provide a better experience to you. I can assure you that we have been listening to you and working tirelessly on that front, and in 2018, you would soon experience a new platform — one which would enable quicker on-boarding, faster payments processing, and a slew of soon-to-be announced features that would enhance your remittance experience with InstaReM.”
As previously reported, since starting operations in August 2015, InstaReM has raised $18 million in two rounds of funding. Its investors include Global Founders Capital, Vertex Ventures (VC arm of Temasek Holdings), Fullerton Financial Holdings, GSR Ventures and SBI-FMO Emerging Asia Financial Sector Fund. InstaReM now holds licenses to conduct money transfer business in Singapore, Hong Kong, U.S., Europe, Australia and Canada. The company has offices in Singapore, Australia, Hong Kong, a 100-people operations office in Mumbai and a technology center in Lithuania