Wallets/instarem
Instarem
0 standards supported
Overview
Instarem is a Singapore-based digital cross-border money-transfer service, operated by Nium Pte. Ltd. [1, 2]. Launched in 2015, Instarem is Nium's consumer-facing remittance brand, offering low-cost international transfers with transparent mid-market-style FX and an "amaze" multi-currency card in some markets. It serves both retail and SME senders across Asia-Pacific, North America, the UK and Europe, sending to 100+ countries [1].
History
2015 — Founded as InstaReM [1] in Singapore by Prajit Nanu and Michael Bermingham.
2016-2018 — APAC remittance expansion [1]: Licensing and corridor build-out across Australia, India, Malaysia, Hong Kong and beyond.
2019 — Rebrand of parent to Nium [2]: The company pivots to a broader B2B global-payments platform under the Nium brand, with Instarem retained as the consumer remittance product.
2021 — Nium reaches unicorn status [2]: A Riverwood Capital-led round values Nium above $1B, the first B2B payments unicorn from Southeast Asia.
2022-2025 — Instarem within Nium's global rails [1]: Instarem leverages Nium's licensing and payout network across 100+ markets while Nium scales card issuance and infrastructure.
Ownership & operator
Operating entity: Nium Pte. Ltd. (Singapore); Instarem is its consumer remittance brand.
Founders: Prajit Nanu (CEO), Michael Bermingham.
Major investors: Riverwood Capital, Temasek/Vertex, GIC, Visa, Tribe Capital, others.
Regulators:
- Singapore: MAS major payment institution license.
- Other markets: per-country money-transmitter / payment licenses held by Nium.
Technical integration
Instarem is app/web digital remittance on Nium's rails [1]:
| Layer | Description |
|---|---|
| Channels | Instarem app (iOS + Android) + web |
| Identifiers | Email + phone number + recipient bank account |
| Funding | Bank transfer, card |
| Payout rails | Bank deposit in 100+ markets via Nium's global payout network |
| Extras | amaze multi-currency card (select markets), InstaPoints loyalty |
Implementations & partners
Operator: Nium Pte. Ltd.
Backing/partners: Visa (strategic investor + card issuance), Riverwood, GIC, Temasek/Vertex.
Markets: Singapore, Australia, India, Malaysia, Hong Kong, US, Canada, UK, EU and more.
Competitors: Wise, [[remitly-app]], [[xoom]], [[western-union]], [[moneygram]], [[worldremit]].
Status
Active, Nium's consumer remittance brand [1, 2]:
- Nium Pte. Ltd. (Singapore); unicorn since 2021.
- Instarem sends to 100+ markets on Nium's global rails.
- Founders Prajit Nanu and Michael Bermingham.
Sources
Source
Biography extracted from instarem.md. See matrix.md for standards-support matrix if present.