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Startups to Change the World: Prajit Nanu, CEO & Co-Founder at InstaReM

InstaReM is a global cross border money transfer company that endeavours to provide our clients with complete transparency, low fees, and margin free FX rates. Banks charge their clients high fees, with wide margins and uncertainty as to how much the beneficiary will receive when they want to move money from one country to another. Worse than that, they hide the true costs, so their clients aren’t aware that they’re being overcharged. We’re changing that.

InstaReM is one of Asia’s largest cross-border money transfer (remittance) provider for businesses and individuals. We started in South East Asia three years ago and now we’re Asia’s only global fintech, with a presence in over ten markets. We’re now moving into Europe and North/South America as well.  

As is the case for most fintech startups, our challenges lay in capital, regulation and talent. Capital, because when you’re starting out you need to make investors believe in your business and the team; in terms of regulation, different jurisdictions have different requirements; as for talent, it’s a super competitive market, with costs for getting the right person justifiably high – and we only want to employ the best.

People are now beginning to understand that you can transfer money to different parts of the world without extortionate charges, and without being laboured with heavy documentation processes and hidden fees. It’s game changing.

Making it more cost effective  for an immigrant to send money home to his/her family, or for a new business to transfer money to a satellite office in another country, is changing lives. We are creating a level playing field for cross-border payments, allowing even the smallest of businesses to compete with global players. InstaReM’s global payments infrastructure has made it the platform of choice for small and medium-sized banks, payment processors, corporates and individuals to send money at a fraction of the usual cost charged by other operators, with full transparency.


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