Digital solutions startup Instamojo has entered the e-commerce space with the launch of a new platform enabling MSMEs and DTC (direct to consumer) brands to trade online.
The Bengaluru-headquartered company, which unveiled a beta version of its e-commerce platform back in February, says it has already onboarded 50,000 DTC businesses — offering a range of products including apparel, phone accessories, handicraft and pickles — for its e-commerce platform.
Instamojo’s new e-commerce platform enables DTC brands to launch their own independent online stores, which will be supported by the company’s digital solutions, including online payments, logistics, credit services, marketing tools and CRM, among other services.
Founded in 2012, Instamojo claims to be India’s largest full-stack SME platform with a “mission is to make MSMEs, truly enterprising”. Over 15 lakh micro-entrepreneurs, startups, MSMEs have used Instamojo to instantly start, sell, manage and grow, using the company’s suite of offerings, including payments, free online store, logistics, credit, and financing, and more, across mobile and web.
The startup raised Rs 50 crore in Series B in January and an undisclosed pre-Series C round in the second half of 2020. It has raised over USD10 million to date from investors including Kalaari Capital, AnyPay, Blume Ventures and 500Start-ups, among others.