your password has been reset successfully, Please login again.

Japan’s AnyPay Invests in startup Instamojo

Instamojo Technologies Pvt. Ltd secures funding from Japan's AnyPay payment firm.
BY BEx Bureau
BusinessEx
Aug 18, 2017

Instamojo Technologies Pvt. Ltd secures an undisclosed amount of funding from AnyPay Japanese payment firm in pre-series B funding round.This is the first investment made by AnyPay in India.

Bangalore-based payment and e-commerce platform for SMEs Instamojo plans to use the raised funds for expansion purposes especially in its offerings and e-commerce services like cataloging, logistics, shipping and GST compliance assistance.

Other than the above mentioned services company also plans to leverage on big data and begin financial services, such as lending via third-party providers, as well as expand its leadership team to meet these goals.

We are extremely excited about the possibilities and the future of the Indian SME market, and hold in great confidence that Instamojo will be able to capture that often underserved market space. For the first time, many Indian small businesses will be able to go digital, including themselves into the mainstream financial system, said Shinji Kimura, CEO, AnyPay.

The company intend to expand its wallet share to 70% by 2019 and enhance its merchant base by 400% in 2018. Instamojo had turned EBITDA positive in July 2017 and spectates 10-15% monthly growth.

With our vertical approach, we aim to cater to the end-to-end requirements of merchants and become an integral part of their growth story. We look forward to leveraging AnyPays expertise to further drive the adoption of online payments and e-commerce among SMEs, said Instamojo CEO Swain.

Please add your Comment
SIMILAR News
September 18, 2018
Walmart-owned Flipkart is in talks to acquire a stake in Hotstar, Star India’s video streaming servi ...More
By Vaishnavi Gupta
September 18, 2018
UberEats has tied-up with Tata AIG for offering comprehensive insurance covers to its delivery execu ...More
By Vaishnavi Gupta
September 17, 2018
Fluido is the second entity which will be acquired under the leadership of Salil Parekh. ...More
By Ritu Marya
September 14, 2018
The move will ramp up its online grocery business in Mexico and Chile. ...More
By Vaishnavi Gupta
September 13, 2018
The raised funds will be used to build the brand, expand distribution, and increase product offering ...More
By Vaishnavi Gupta
September 12, 2018
It is an all-cash deal, however, the company has not disclosed the financial details of the transact ...More
By Vaishnavi Gupta
September 11, 2018
This partnership will include developing and delivering conversational AI platform for global enterp ...More
By Vaishnavi Gupta
September 10, 2018
Infosys will hold a 60% stake in the JV, while Temasek will acquire 40%. ...More
By Vaishnavi Gupta
September 07, 2018
New funds enable GreyOrange to accelerate the fulfillment of its vision to develop the next generati ...More
By Vaishnavi Gupta
September 06, 2018
JSW Steel and promoters have bought around 88% stake in the Monnet Ispat and Energy Ltd (MIEL). ...More
By Vaishnavi Gupta
September 06, 2018
The new infrastructure fund exceeds its initial target of $5 billion. ...More
By Vaishnavi Gupta
September 05, 2018
Miles Software provides wealth and asset management on-demand software to banks, asset managers and ...More
By Vaishnavi Gupta