Instamojo Targets 1 Million Small, Medium Businesses by 2018

Instamojo, India’s fastest growing on-demand payments and e-commerce platform, aims to expand its current merchant base of 250,000  to 1 million by next year. Instamojo has successfully increased the number of merchant registrations on the platform by 106% and has witnessed a 150% growth in new merchant activations in the last financial year. It’s digital payment solutions have witnessed a strong adoption by merchants and the number of transactions performed on Instamojo’s platform has grown by over 178% in the last year alone.

The company also announced the launch of a suite of strategic and powerful solutions that cater to the diverse business needs of merchants and enable them to build, manage and grow their business online with ease.

• ‘Instamojo Connect Marketplace’  which connects small business owners with sellers who offer services such as content development, logo and web  designing, translations, digital marketing, SEO analytics etc.
• An Online Store that allows merchants to build their own customisable store, hosted on Instamojo for free. It has features such as a shopping cart, optimized SEO links, advanced analytics, payment links for easy checkout, sales reports and other important apps like accounts and tax-related tools to offer a complete online business experience to merchants. Over 20,000 products are added to the store on a monthly basis and the 5000+ stores have over 1,00,000 monthly visitors
• Android Mobile App which is equipped with Instamojo’s powerful payment feature, which allows merchants and individuals to create payment links, track sales, pay-outs. Instamojo witnessed a 10% increase in merchant sign-ups after introducing the app earlier this year.

“Instamojo is at the forefront of enabling the growth of small and medium businesses in India. We strongly believe that adoption of digital technology is key for any business idea to grow and we are accelerating this growth by providing convenient and innovative solutions. Instamojo aims to address the end-to-end requirements of SMBs and emerge as their one-stop digital partner. Today, 1 out of 100 active Indian SMEs use Instamojo and we are working towards narrowing this gap further. We have witnessed a strong adoption for our payment platform so far and are excited for our next phase of growth”, said Sampad Swain, Co-Founder and CEO, Instamojo.