# Instarem

> Source: https://docs.barcoder.ai/docs/wallets/instarem
> research date 2026-06-01 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Instarem — official](https://www.instarem.com/)

## Overview

**Instarem** is a **Singapore-based digital cross-border money-transfer service**, operated by **Nium Pte. Ltd.** <sup>[1][1], [2][2]</sup>. 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** <sup>[1][1]</sup>.

## History

**2015 — Founded as InstaReM** <sup>[1][1]</sup> in Singapore by Prajit Nanu and Michael Bermingham.

**2016-2018 — APAC remittance expansion** <sup>[1][1]</sup>: Licensing and corridor build-out across Australia, India, Malaysia, Hong Kong and beyond.

**2019 — Rebrand of parent to Nium** <sup>[2][2]</sup>: 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** <sup>[2][2]</sup>: 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** <sup>[1][1]</sup>: 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** <sup>[1][1]</sup>:

| 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](https://docs.barcoder.ai/docs/wallets/remitly-app), [Xoom (PayPal)](https://docs.barcoder.ai/docs/wallets/xoom), [Western Union](https://docs.barcoder.ai/docs/wallets/western-union), [MoneyGram](https://docs.barcoder.ai/docs/wallets/moneygram), [WorldRemit (Zepz)](https://docs.barcoder.ai/docs/wallets/worldremit).

## Status

**Active, Nium's consumer remittance brand** <sup>[1][1], [2][2]</sup>:
- **Nium Pte. Ltd.** (Singapore); unicorn since 2021.
- Instarem sends to 100+ markets on Nium's global rails.
- Founders Prajit Nanu and Michael Bermingham.

## Sources

[1]: https://en.wikipedia.org/wiki/Instarem "Instarem — Wikipedia"
[2]: https://en.wikipedia.org/wiki/Nium "Nium — Wikipedia"
[3]: https://www.instarem.com/ "Instarem — official site"

- [1] [Instarem — Wikipedia][1]
- [2] [Nium — Wikipedia][2]
- [3] [Instarem — official site][3]

## Source

Biography extracted from [instarem.md](https://docs.barcoder.ai/source/wallets/instarem). See `matrix.md` for standards-support matrix if present.