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
May 25, 2018
The stock dropped 6.56 percent to settle at Rs 288.95 on BSE ...More
By Sanjana Surbhi
May 25, 2018
This was not the first time when Uber made profit quarterly ...More
By Sanjana Surbhi
May 25, 2018
Airtel Payments Bank was the first payments bank to start operations in India ...More
By Sanjana Surbhi
May 24, 2018
The expansion is a part of Transamerica deal with over 430 employees joining the company ...More
By Sanjana Surbhi
May 24, 2018
SoftBank had invested $2.5 billion in Flipkart last year ...More
By Sanjana Surbhi
May 23, 2018
The approval is subject to compliance of "certain modifications" ...More
By Sanjana Surbhi
May 22, 2018
It claims that Google unlawfully collected people's data by using iPhone's default setting ...More
By Sanjana Surbhi
May 22, 2018
IHS markit Ltd is a global information provider based in London, the UK planning to buy Ipreo to sup ...More
By Sanjana Surbhi
May 22, 2018
General Electronic will receive $2.9 billion in cash and 50.1 percent stake ...More
By Sanjana Surbhi
April 12, 2018
New Delhi-based startup Chariot has raised Rs.2 crore funding from GEMS Partners. ...More
By Ritu Marya
April 10, 2018
Yumlane's parent company QwikPik secures Rs.26 crore funding from RB Investments and its existing in ...More
By Ritu Marya
April 05, 2018
Digital lending startup Namaste Credit secures $3.8 million funding from Nexus Venture Partners. ...More
By Ritu Marya