Fintech startup InstaReM expands services to the EU
Cross-border payment firm InstaReM has announced a continued expansion across the globe – this time to the European Union.
The company has come a long way since opening its very first corridor in Australia in 2014. With the issuance of the Electronic Money Institution license (EMI) from the Bank of Lithuania, InstaReM will be able to provide international money transfer services in Europe from Vilnius, which will be InstaReM’s seventh office globally. Operating out of Lithuania will not only allow InstaReM to grow its customer base exponentially throughout the EU, but will also play a significant part in developing Lithuania’s fintech eco-system. InstaReM aims to invest approximately 3 million euros in its European operations over the next two years.
Now headquartered in Singapore and recognised as one of the country’s best-funded start-ups after their Series B round in July this year, InstaReM currently provides cross-border money transfer services to individuals and businesses in Australia, Singapore, Hong Kong and Canada.