The cross-board payments provider has reached the first close for a targeted $45m round thanks to a first tranche backed by Telkom Indonesia, Kasikorn Bank, Rocket Internet and SBI.
Singapore-based money remittance platform Instarem has raised $20m in the first close of a series C round co-led by telecommunications firm Telkom Indonesia and financial services group Kasikorn Bank.
MDI Ventures and Beacon Venture Capital, the respective venturing units of Telkom Indonesia and Kasikorn, were joined by e-commerce holding group Rocket Internet, financial services conglomerate SBI, venture capital firm GSR Ventures and Vertex Ventures, the VC arm of Singapore state-owned investment firm Temasek.
The company is targeting $45m for the…
