Singapore-based InstaReM, a digital cross-border payments company, has raised $58 million in a Series C funding round.

The round, which takes InstaReM’s total funding to $84 million, was led by Vertex Growth Fund, joined by a new backer, South Korea-based Atinum Investment.

InstaReM plans to use the new funds to expand the Visa-powered cards platform to financial technology companies or startups in Australia, Hong Kong and Malaysia, seeking to be part of Singapore’s payments and remittances ecosystem.

Moreso, the company will further use the new capital to introduce a multi-currency forex card.