Instamojo is a Bangalore, India-based fintech company founded in 2012 to provide comprehensive e-commerce and payment solutions to small and medium-sized enterprises (SMEs) and direct-to-consumer (D2C) brands.
Company
- OverviewFounded: 2012Headquarters
- : Bangalore ,
- IndiaFounder: Sampad Swain, Akash Gehani, Harshad SharmaIndustry
- : Fintech
- Official website: https://www.instamojo.com
regulatory information
Instamojo had applied for a Payment Aggregator (PA) license from the Reserve Bank of India (RBI), but in September 2023, the RBI returned its application due to failure to meet eligibility requirements such as net worth. As a result, Instamojo discontinued its payment gateway business and plans to partner with licensed payment aggregators to continue offering payment services.
Despite this, Instamojo still adheres to the data security and privacy protection requirements of the Government of India and RBI, implementing security measures such as encryption and firewalls to keep user information safe.
Products &
ServicesInstamojo offers a free e-commerce website builder to help merchants create custom online stores with support for product display, order management, customer relationship management (CRM), and more.
Instamojo offers a variety of payment methods, including credit cards, debit cards, UPI, Net Banking, EMI, BNPL, and more, allowing merchants to receive payments through payment links, embedded payment buttons, smart pages, and more.
Merchants can sell digital products such as eBooks, courses, music, artwork, and more through Instamojo, and the platform offers a full suite of solutions for digital product sales, including payment, delivery, and marketing tools.
Instamojo offers integrations with multiple logistics partners, supports merchants for door-to-door pickup and delivery, and provides real-time order tracking and cash on collect (COD) services.
Instamojo offers built-in marketing tools like discounts, coupons, email and SMS marketing, social media integrations, and more to help merchants promote their products and engage customers.
Market Positioning &
StrategyInstamojo primarily serves SMEs, startups, and direct-to-consumer brands in India, especially in verticals such as arts, crafts, education, health, beauty, etc. The company helps merchants build their brands, expand their markets, and increase sales by providing one-stop e-commerce and payment solutions.
Against the backdrop of a changing regulatory environment, Instamojo is adapting its business strategy to partner with licensed payment aggregators to continue to provide payment services, while strengthening digital product sales and e-commerce platform construction to adapt to market demand.
Neutral Evaluation
: As one of India's leading fintech companies, Instamojo has successfully supported the digital transformation of a large number of small and medium-sized enterprises with its innovative e-commerce and payment solutions. However, faced with India's complex regulatory environment and fierce market competition, Instamojo needed continuous innovation and agility to maintain its market position.
For more information, visit the official Instamojo website at https://www.instamojo.com
