Malaysian fintech startup Instapay raises $3m and other SE Asia deals

Malaysian fintech startup Instapay raises $3m and other SE Asia deals

Instapay Technologies, a Malaysian pure digital payment platform, has announced raising $3 million in a Series A2 round anchored by an unnamed group of US family offices.

The round was also backed by the startup’s existing investors, including ACA Investments Pte Ltd, a Singapore-based Japanese investment firm, per the announcement.

Instapay, which launched in 2019 to serve unbanked migrant workers in Malaysia, said the funds will support product expansion, technological upgrades, and innovation in cross-border payments.

Its e-wallet enables workers to do digital cross-border remittances, bill payments, and mobile top-ups, among others. The company also plans to roll out business-to-business remittance services through its Glyd Corporate Expense Management platform.

Thai startup 10Ants Enterprise raises pre-seed funding

10Ants Enterprise, a Bangkok-based urban revitalisation startup, has announced raising $500,000 in pre-seed funding anchored by climate-tech venture builder Wavemaker Impact.

The funding will support the development of 10Ants Enterprise’s in-house property-tech platform, which offers location data analytics, eco-business management tools, and expansion planning services.

The company, founded by Chatchanart Jiratornsirikul, repurposes idle spaces such as upper shophouse floors and warehouses into affordable commercial units, offering rates up to 30% lower than comparable properties.

“Our approach is not just about leasing space, it is about building a more sustainable and inclusive urban economy, one street at a time,” Jiratornsirikul said.

10Ants also promotes sustainability through green upgrades like IoT-enabled energy systems, inverter air-conditioning, and smart waste management tools.

Singapore’s Shiok Burger raises funds

Singapore-based burger chain Shiok Burger has reportedly raised funds in its pre-Series A funding round anchored by Southeast Asian venture capital firm AC Ventures.

The amount raised was not disclosed. According to a 36Kr report, the round was also backed by existing shareholders CFF Fund, SPIRAL RISE Capital, and a major publicly listed Chinese food conglomerate.

A significant portion of the funding came from increased commitments by original shareholders, per the report. Proceeds from the round will be used to expand the company’s central kitchen to support operations across more than 30 outlets.

Shiok Burger was created by the team behind popular local eateries Delibowl and Nuodle. Launched with its first outlet at Paya Lebar Square, the brand has since expanded to locations like Raffles City and Sengkang.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has put together a table listing prominent venture capital transactions in Southeast Asia for the fortnight starting June 9, 2025.

Edited by: Pramod Mathew

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