Kuala Lumpur, October 23, 2025
CB Insights today named Instapay Technologies to its eighth annual Fintech 100, showcasing the 100 most promising private fintech companies in the world. This recognizes Instapay’s innovative digital payment platform that enables corporates pay salary to their migrant worker’s Instapay e-wallet, giving them access to formal payment channel and reducing their cost of transactions.
“This year’s Fintech 100 showcases a new generation of companies turning AI, automation, and digital assets into the backbone of financial infrastructure,” said Laura Kennedy, Principal Analyst at CB Insights. “This year’s winners are building infrastructure that will shape the future of financial services.”
Rajnish Kumar, CEO, Instapay, said “We are delighted and honored to be recognized by CB Insights. We were founded with a vision to provide financial inclusion to the underserved customer segments, especially migrant workers. This recognition is a validation of our team’s work and the impact we are making in the communities we serve. We remain committed to introducing innovative financial products and services that are suitable and affordable for this segment.”
The list features early – and mid-stage startups driving the evolution of fintech. Utilizing the CB Insights Strategy Terminal, the 100 winners were selected based on the several factors, including CB Insights datasets on deal activity, industry partnership, investor strength, hiring momentum, and private company signals such as Commercial Maturity and Mosaic Scores. We also reviewed Analyst Briefings submitted directly to us by startups and leveraged Scouting Reports, powered by CB Insights’ Team of Agents.
Instapay Technologies Sdn Bhd, is a banking alternative for low-income workers, providing e-wallet and Mastercard to unbanked migrant workers as a Payroll Solution. Founded with a vision to provide financial inclusion to the underserved customer segments, Instapay has grown rapidly and today services hundreds of corporates for payroll accounts for their migrant workers. Instapay e-wallet enables workers to do digital cross border remittance, bill payments, mobile top-ups etc. Instapay Mastercard is accepted globally at millions of Mastercard merchants and can be used for purchases as well as for ATM cash withdrawals. Instapay has seen rapid customer adoption in its target segment and continues to be amongst the highest rated e-wallet apps in Malaysia.
About CB Insights
CB Insights is the leader in predictive intelligence on private companies. It delivers instant insights that help you source and analyze private companies, focus on the right markets, and stay ahead of competitors. Our AI agents are powerful because they translate signals into the exact outputs your teams need to move first – defensible, sourced, and board-ready. To learn more, please visit www.cbinsights.com.
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About Instapay Technologies
Instapay is a pure digital payment platform which reduces the cost of transactions and improves accessibility to formal payment channels for the underbanked segments and SMEs in Malaysia and Southeast Asia.
Instapay Technologies Sdn Bhd, started its market operations in Malaysia in 2019 as a banking alternative for low-income workers, providing e-wallet and Mastercard to unbanked migrant workers as a Payroll Solution. Founded with a vision to provide financial inclusion to the underserved customer segments, Instapay has grown rapidly and today services hundreds of corporates for payroll accounts for their migrant workers. It enables corporates to pay salary digitally to their workers’ Instapay e-wallet. Instapay has seen rapid customer adoption in its target segment and continues to be amongst the highest rated e-wallet apps in Malaysia.
Instapay e-wallet enables workers to do digital cross border remittance, bill payments, mobile top-ups etc. Instapay Mastercard is accepted globally at millions of Mastercard merchants and can be used for purchases as well as for ATM cash withdrawals.
Instapay is one of the leading digital remittance platforms in Southeast Asia.
