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
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 19, 2018
Ananth Narayanan, Chief Executive Officer of Myntra, will continue to lead the team. ...More
By Vaishnavi Gupta
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta
November 09, 2018
The acquisition is in line with the company's strategy to boost the value for its stakeholders throu ...More
By Vaishnavi Gupta
November 03, 2018
Viithiisys, with this acquisition, will expand its product portfolio and list of clients. ...More
By Vaishnavi Gupta
November 02, 2018
Post acquisition, W12 Studios will be a part of TCS Interactive, the digital division of the IT serv ...More
By Vaishnavi Gupta
November 01, 2018
The fresh funds will be used by Turms to expand its product categories, hire tech talent and launch ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta