This is Instamojo’s first acquisition since its inception in 2012, and will allow the startup to branch into software offerings.
Instamojo launched as a payment gateway for MSMEs, and later branched into an ecommerce platform for merchants to list and sell their products and services online. It had launched a lending product–MojoCapital–and a last-mile logistics service, branded MojoXPress, focused on its merchants in 2018.
With this acquisition, the startup plans to launch a new graphical interface that will allow its sellers to build their own website landing page, listing structure, and a tool to build their own custom web store. GetMeAShop is a full-fledged Software as a Service (SaaS) platform that helps MSMEs adopt software into their business without any prior technical knowledge. It offers a website and online store builder, logistics support, CRM software, native Android and iOS mobile apps support, social selling via WhatsApp and Facebook, and marketing tools offered using SMS, email, push notifications and data analytics.
Instamojo currently competes with other B2B focused lending services such as Aye Finance, Capital Float, Namaste Credit, and Lendingkart in the SME lending space, and those such as Razorpay, CCAvenue, CitrusPay, and PayUbiz in the B2B focused payment services space.
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