The digital salary account built for the people who build Malaysia - its migrant and foreign workforce.
In Malaysia, roughly three million migrant workers keep construction sites running, palm-oil estates picked and factory lines moving. Most of them cannot walk into a bank branch and open an account. Instapay Technologies looked at that gap and built the thing the banks would not: a regulated digital salary account, a prepaid Mastercard and a way to send money home - all inside a phone.
Founded in 2017 by Rajnish Kumar and Sujata Dutta and live in the market since 2019, the Kuala Lumpur company operates as a licensed e-money issuer and Money Services Business under Bank Negara Malaysia. A worker's wages land in the Instapay wallet, and from there the money can be spent, saved, remitted, or withdrawn as cash. It is unglamorous, essential plumbing - and it works.
We are a profitable and cash-flow positive company - this investment will allow us to scale even faster.
Rajnish Kumar, Co-Founder & CEOAll licences in place and supported by strong business momentum.
Hajime Adachi, ACA InvestmentsLargely from Indonesia, Nepal, Bangladesh, India and Pakistan. They need to receive pay safely, send money home cheaply, and cover daily life - top-ups, bills, transport, shopping - without a traditional bank account.
Hundreds of companies use Instapay to disburse salaries directly into workers' wallets, replacing cash payroll with a traceable, compliant digital flow.
Workers locked out of formal banking get a regulated account, bringing them into the digital economy.
Real-time cross-border transfer replaces informal money changers and steep fees when sending wages home.
Digital salary crediting removes the danger and friction of paying a large workforce in physical cash.
Salary in, money home, bills paid, shopping done - Instapay compresses the essentials into a single app and a card that works worldwide.
A mobile e-wallet where workers receive wages and manage money, backed by e-money issuer licensing.
Accepted at millions of merchants worldwide for shopping, online purchases and ATM cash withdrawals.
Real-time transfers from Malaysia to 30+ countries including India, Nepal, Bangladesh and the Philippines.
B2B salary crediting so employers pay migrant workforces directly - no cash, fully traceable.
Instant local transfers and QR cashless payments on Malaysia's national payments network.
Corporate expense management with B2B remittance - Instapay's move up the value chain to businesses.
Instapay's rivals were on two extremes: global banks that ignored this customer, and informal money changers that overcharged them. Instapay split the difference.
Revenue flows from transaction and FX margins on remittance and card usage, plus B2B payroll and expense services sold to employers. Notably, Instapay reported being profitable before its 2025 raise.
Relative illustration of revenue drivers, not audited figures.
We are also starting business-to-business remittance within our Glyd Corporate Expense Management Platform.
Rajnish Kumar, Co-Founder & CEORajnish Kumar and Sujata Dutta establish Instapay Technologies Sdn Bhd in Kuala Lumpur.
Instapay begins operations offering e-wallet and payroll accounts for unbanked migrant workers.
A prepaid Mastercard unlocks global spending and ATM withdrawals for workers.
Raises $4.75M (MYR 21.5M) led by a Daiwa Securities-backed fund for regional expansion.
Closes a $3M round, launches B2B remittance via Glyd, and is named a Top 100 Global Fintech Startup.
Leads Instapay's strategy and growth, steering the company through licensing, its Mastercard partnership and two funding rounds.
Co-founded Instapay in 2017, helping shape a product built specifically for financially underserved communities.
The company's edge is regulatory: holding e-money issuer and Money Services Business licences from Bank Negara Malaysia, and membership in the Malaysian Association of Money Services Business - the hard, slow groundwork that lets it move wages and remittances at scale within the rules.
Instapay sits at the intersection of remittance, digital wallets and payroll - a slice of fintech aimed squarely at financial inclusion. It competes with bank remittance desks, informal money changers, and cross-border players like Wise, WorldRemit, Merchantrade Asia and Valyou, but differentiates by owning the full loop from salary crediting to spend to send.
Named among 2025's Top 100 Global Fintech Startups - and awarded Malaysia Digital status.
Recognition, 2025It provides a regulated digital salary account and e-wallet, plus a prepaid Mastercard, for migrant and foreign workers in Malaysia to get paid, send money home, and pay for everyday services.
It was founded in 2017 by Rajnish Kumar (Co-Founder and CEO) and Sujata Dutta, and began market operations in 2019.
Yes. Instapay is licensed by Bank Negara Malaysia as an e-money issuer and Money Services Business, and is a member of the Malaysian Association of Money Services Business (MAMSB).
About $7.75M total - a $4.75M Series A in 2022 and a $3M Series A2 in June 2025 - from investors including ACA Investments and US-based family offices.
Instapay supports cross-border remittance to 30+ countries, including India, Bangladesh, Nepal, Pakistan, Indonesia, the Philippines, Thailand and Myanmar.