KUALA LUMPUR, 27 October 2025 — CB Insights has announced that Instapay Technologies Sdn Bhd has been named to its eighth annual Fintech 100 list, which recognises the 100 most promising private fintech companies in the world.
This recognition highlights Instapay’s innovative digital payment platform, which enables corporations to pay salaries directly into their migrant workers’ Instapay e-wallets. This solution enhances financial inclusion by providing access to formal financial channels, reducing transaction costs, and facilitating seamless digital cross-border remittances.
“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. “The 2025 winners are building the infrastructure that will shape the future of financial services.”
“We are delighted and honoured to be recognised by CB Insights and to be listed among the top 100 fintechs globally,” said Rajnish Kumar, CEO of Instapay. “Instapay was founded with a vision to provide financial inclusion to underserved customer segments, particularly foreign migrant workers. This recognition validates our team’s efforts and the positive impact we’re creating in the communities we serve. We remain committed to delivering innovative, accessible, and affordable financial products for this segment.”
The Fintech 100 list spotlights early- and mid-stage startups that are transforming financial services. Winners were selected using the CB Insights Strategy Terminal, evaluating factors such as deal activity, industry partnerships, investor strength, hiring momentum, and private company performance indicators, including Commercial Maturity and Mosaic Scores. Analyst briefings and scouting reports further informed the selection process.
Instapay Technologies provides a banking alternative for low-income and unbanked workers, offering an e-wallet and Mastercard-linked payroll solution for migrant workers in Malaysia. Since its launch in 2019, Instapay has grown rapidly, now serving hundreds of corporate clients managing payroll for their foreign workers.
Through the Instapay e-wallet, users can make digital cross-border remittances, bill payments, and mobile top-ups. The Instapay Mastercard is accepted worldwide at millions of Mastercard merchants and can be used for purchases and ATM withdrawals. Instapay continues to achieve high adoption rates and remains among the top-rated e-wallets in Malaysia.
