Instamojo

Instamojo Inc.
Industry E-commerce
Founded 2012[1]
Founder Sampad Swain
Headquarters Bangalore, India; Mountain View, California
Area served
 India, United States
Key people
 Akash Gehani , Harshad Sharma
Products Digital goods
Number of employees
 40 [2]
Website https://www.instamojo.com/

Instamojo Inc. is a web-based Indian startup Payment Gateway in India, founded in 2012 by Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain. It is based in Bangalore, India.[3][4]

Instamojo is a company that is targeted to selling digital goods & collecting payment online. Instamojo offers payment gateway solutions to today’s era Entrepreneurs, Solopreneurs & Freelancers.[5]

The company has enabled 100000+ businesses across India to collect payments online and over 1.2 million people have made transactions.[3]

Services

It primarily provides customers a platform to sell digital goods like ebooks, reports, comic books, music, software, templates, photos, tutorials etc. by listing the item on the website and sharing the web link with others. As per reports the company has over 100000+ businesses.[6]

Swain, co-founder at the startup said he got the idea for Instamojo when he started a newsletter containing video interviews of entrepreneurs.[7] The company was selected in the fifth batch of 500 Startups in October 2012 [8] and has received funding from angel investors like Rajan Anandan, VP & MD of Google, South East Asia & India and Sunil Kalra.[9] Instamojo pays the seller 95 percent of every successful transaction for digital goods and 98.1 percent of every successful transaction for physical goods and products not hosted on their servers.[10]

Funding

Previously been backed by angel investors such as Rajan Anandan, Sunil Kalra, and Dave McClure,[11] Instamojo secured $500,000 in 3 rounds from 8 investors of which the most recent one was the Series A funding on November 13, 2014.[12] The amount of which however remained undisclosed and was led by Kalaari Capital.[13]

References

  1. ↑ Instamojo Inc. incorporation data
  2. ↑ "About". Instamojo Inc. Instamojo Inc. Retrieved 11 December 2013.
  3. 1 2 "About". Instamojo Inc. Instamojo Inc. Retrieved 9 April 2013.
  4. ↑ Bohidar, Mahananda. "Simplifying selling". Hindu Business Line. Retrieved 9 April 2013.
  5. ↑ "Instamojo- Simplest Way To Sell & Collect Payment Digitally in India". ShoutMeLoud. Retrieved 2016-04-17.
  6. ↑ Abudheen, Sainul K (14 March 2013). "10 Indian tech startups that have gone global". Tech Circle. Retrieved 9 April 2013.
  7. ↑ Sen, Anirban (5 April 2013). "India’s fledgling start-up sector seeing exodus". Live Mint. Retrieved 9 April 2013.
  8. ↑ Lawler, Ryan (31 October 2012). "Dave McClure’s 500 Startups Chooses 33 Companies For Its Fifth Accelerator Batch, Bets Big On International". Tech Crunch. Retrieved 9 April 2013.
  9. ↑ Pahwa, Nikhil (25 July 2012). "Rajan Anandan & Sunil Kalra Back Online Selling Site InstaMojo; Plans, Ideas". Medianama. Retrieved 9 April 2013.
  10. ↑ http://blog.instamojo.com/transaction-fee/
  11. ↑ https://www.techinasia.com/instamojo-raises-funds-kalaari-capital/
  12. ↑ http://www.crunchbase.com/organization/instamojo
  13. ↑ "Kalari Capital".
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