Total amount raised
$8.4 Million
Latest funding date
6/1/2021
Location
Instamojo has successfully raised funding over 8 rounds, with the latest being a Corporate Round led by Mastercard. The platform supports Direct-to-Consumer (D2C) brands in starting and scaling their online businesses.
Instamojo is backed by 15 investors, including notable names like Mastercard and BASE. Keep reading to explore the intricacies of Instamojo's fundraising journey and the investors backing this innovative platform.
What Is Instamojo?
Instamojo, founded in Bangalore, Karnataka, India, is a private D2CTech platform company that supports Direct-to-Consumer (D2C) brands in starting and scaling their online businesses. The company operates in various industries, including Business Development, E-Commerce, Financial Services, FinTech, and Payments.
With an employee count ranging from 51 to 100, Instamojo offers a comprehensive suite of tools for creating and managing online stores, landing pages, and payment solutions. The platform is utilized by over 20 lakh small businesses, providing features such as product showcasing, integrated payment modes, domain and hosting services, marketing tools, and shipping services.
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's operations and initial development.
- Seed Round
- Amount Raised: USD 500,000
- Date: May 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach more small businesses.
- 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 enhance product offerings.
- 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 market presence and develop new features.
- Series B
- Amount Raised: USD 7,000,000
- Date: January 2019
- Lead Investors: AnyPay
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion into new markets.
- Series Unknown
- Amount Raised: INR 69,900,000
- Date: March 2020
- Lead Investors: Times Internet
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand service offerings.
- Series Unknown
- 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 expand business operations.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Mastercard
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance payment solutions.
Total Amount Raised: USD 7,500,000
Current Valuation: Not publicly disclosed
Key Investors
- Mastercard
- Details: Mastercard is a global financial services corporation headquartered in Purchase, New York. It is known for its extensive range of payment processing services and financial products.
- Investment Focus Areas: Financial services, payments, fintech
- Notable Investments: Instamojo, Marqeta, Plaid
- AnyPay
- Details: AnyPay is a Japanese fintech company that provides payment solutions and financial services. It focuses on simplifying transactions for businesses and consumers.
- Investment Focus Areas: Fintech, payments, e-commerce
- Notable Investments: Instamojo, Paidy, Smartpay
- Times Internet
- Details: Times Internet is a digital products company and a subsidiary of The Times Group, India's largest media conglomerate. It operates various digital platforms and services.
- Investment Focus Areas: Media, digital services, e-commerce
- Notable Investments: Instamojo, Delhivery, Byju's
- Kalaari Capital
- Details: Kalaari Capital is an early-stage venture capital firm based in Bangalore, India. It focuses on investing in technology-oriented startups.
- Investment Focus Areas: Technology, e-commerce, fintech
- Notable Investments: Instamojo, Dream11, CureFit
- Gunosy Capital
- Details: Gunosy Capital is a Singapore-based investment firm that focuses on digital enablers and payments platforms for micro-businesses. It aims to support innovative startups in the fintech space.
- Investment Focus Areas: Digital enablers, payments platforms, micro-businesses
- Notable Investments: Instamojo
What's Next for Instamojo?
Instamojo is poised to capitalize on significant opportunities, particularly in expanding into global markets. With strategic support from Base, the company is well-positioned to leverage expertise and technology to enhance its offerings. The e-commerce enablement space for small merchants is growing rapidly, and Instamojo's GMV run rate of Rs 2,000 crore underscores the vast potential ahead.
Future fundraising opportunities appear promising, given the company's profitability and recent investments. Instamojo may attract further investment to scale operations and enhance technological capabilities. However, the company will need to navigate challenges such as competition from well-funded players and adapting to different market dynamics and regulatory environments in global markets.
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