Total amount raised
$8.4 Millions
Latest funding date
6/1/2021
Location
Instamojo has successfully raised funding through multiple rounds, attracting notable investors such as Mastercard and BASE. The platform offers a comprehensive suite of tools for Direct-to-Consumer (D2C) businesses to create and manage their online stores.
Keep reading to explore the intricacies of Instamojo's fundraising journey and the investors backing this innovative platform.
What Is Instamojo?
Instamojo, founded in 2012, is a D2CTech platform based in Bangalore, Karnataka, India. The company was established by Aditya Sengupta, Akash Gehani, Harshad Sharma, and Sampad Swain. With a team of 51-100 employees, Instamojo offers comprehensive solutions for D2C brands to start and scale their businesses online.
Instamojo provides a range of services including online store creation, payment gateway integration, shipping solutions, and marketing tools. The platform is designed to empower small and medium-sized enterprises (SMEs) with the tools they need to succeed in the digital marketplace.
Over the past decade, Instamojo has supported over a million MSMEs, helping them navigate the complexities of eCommerce with ease. The company's mission is to simplify online business operations, making it accessible for entrepreneurs to thrive in the competitive market.
How Much Funding Has Instamojo Raised?
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: July 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop the initial product.
- Seed Round
- Amount Raised: $500K
- Date: May 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: Not publicly disclosed
- Date: November 2014
- Lead Investors: Kalaari Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series A
- Amount Raised: Not publicly disclosed
- Date: August 2017
- Lead Investors: AnyPay
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform's capabilities and market presence.
- Series B
- Amount Raised: $7M
- Date: January 2019
- Lead Investors: AnyPay
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and support growth.
- Venture Round
- Amount Raised: ₹69.9M
- Date: March 2020
- Lead Investors: Times Internet
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enter new markets.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To explore global markets and enhance technological capabilities.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Mastercard
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and expand market reach.
Total Amount Raised: $7.5M
Current Valuation: Not publicly disclosed
Key Investors
- Mastercard
- Details: Mastercard is a global payments technology company that connects consumers, financial institutions, merchants, governments, and businesses worldwide. They are known for their extensive network and innovative payment solutions.
- Investment Focus Areas: Financial services, technology, digital payments.
- Notable Investments: Instamojo, Pine Labs, Razorpay.
- Times Internet
- Details: Times Internet is the digital arm of The Times Group, India's largest media conglomerate. They focus on building and investing in digital products and services.
- Investment Focus Areas: Media, technology, e-commerce.
- Notable Investments: Delhivery, Byju's, MX Player.
- AnyPay
- Details: AnyPay is a Japanese fintech company that provides payment solutions and financial services. They aim to simplify and enhance the payment experience for businesses and consumers.
- Investment Focus Areas: Fintech, e-commerce, digital payments.
- Notable Investments: Instamojo, Paidy, Smartpay.
- Kalaari Capital
- Details: Kalaari Capital is an early-stage venture capital firm based in India. They focus on investing in technology-oriented companies with high growth potential.
- Investment Focus Areas: Technology, e-commerce, healthcare.
- Notable Investments: Dream11, CureFit, Myntra.
- Base
- Details: Base is a Japan-based e-commerce platform often referred to as the Shopify of Japan. They provide tools and services to help small businesses create and manage online stores.
- Investment Focus Areas: E-commerce, technology, small business solutions.
- Notable Investments: Instamojo, BASE, Inc.
What's Next for Instamojo?
Instamojo is poised to capitalize on the burgeoning e-commerce enablement market, with plans to expand into global markets. Leveraging strategic investments from Gunosy and Base, the company aims to introduce innovative products for small merchants, such as sachet loans and loyalty programs. This expansion presents a significant opportunity, given the company's impressive Rs 2,000 crore GMV run rate.
Future fundraising seems likely as Instamojo continues to grow and compete in a crowded market. However, challenges such as maintaining profitability and adapting to new regulatory environments could pose hurdles. Continuous innovation and strategic partnerships will be crucial for sustaining growth and market presence.
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