Bengaluru: Instamojo aims to on-board more than 250,000 small businesses by the end of FY’22. Earlier this year, the company made its entry into the e-commerce enabler space with its digital product suite, empowering D2C brands to launch their own independent online stores. Since the activation of the beta version of the e-commerce platform in February’21, the company has seen 2.5 lakh plus D2C merchant subscriptions, accounting to more than 100% growth in the 1st quarter post the launch. Instamojo currently has a merchant base of more than 2 million small business owners.
Instamojo’s e-commerce platform offers merchants the tools to build and manage their own business website, along with other integrated services which include digital payments, logistics, instant pay-outs, access to credit, marketing tools and CRM. Merchants can also opt for the “The Do it for Me (DIFM)” feature where Instamojo’s tech experts take charge of building a merchant’s website to provide a hassle free experience.
As per recent data from the platform on merchants creating online stores, the company has seen maximum traction from businesses based out of the city of Pune, followed by Delhi, Mumbai and Bangalore amongst the metros. In fact, 18% of e-commerce sellers on the platform are from Pune. Amongst the non-metros, Lucknow leads the way, followed by Jaipur and Ahmedabad where the top e-commerce categories included fashion, art and food.
Sampad Swain, CEO & Co-founder, Instamojo said, “In the last couple of years, both digitisation and changing consumer behaviours have made it imperative for small businesses to move online. In fact, in a post pandemic world, the D2C model can be an effective solution to catalyse recovery of businesses. Post the launch of the beta version of our e-commerce solutions, we received tremendous response from merchants across the country especially from the non-metros. Small business owners were very receptive to the online store model, an indicator that the sector is evolving towards a digital future.”
He further added, “It is heartening to see the digital growth of this sector which is mostly defined by traditional business models. As we witness D2C businesses moving online, we aim to support the growth journey of more than 250,000 small business owners as they strive towards becoming digitally independent. ”
Instamojo also offers merchants digital solutions which include online payments, logistics, credit services, free learning platform called mojoversity and more for business to gain visibility. Early 2020, the company acquired GetMeAShop (GMAS), an e-commerce enablement firm backed by Times Internet, and closed its Pre-Series C round of funding in the later part of 2020.
