Instamojo Archives - PuneDiary.Com https://punediary.com/tag/instamojo/ Each & Everything About Pune Mon, 14 Dec 2020 05:09:00 +0000 en-GB hourly 1 https://wordpress.org/?v=6.2.5 https://punediary.com/wp-content/uploads/2018/12/cropped-pen-32x32.png Instamojo Archives - PuneDiary.Com https://punediary.com/tag/instamojo/ 32 32 Instamojo digitises more than 2 lakh small businesses post the pandemic https://punediary.com/instamojo-digitises-more-than-2-lakh-small-businesses-post-the-pandemic/ https://punediary.com/instamojo-digitises-more-than-2-lakh-small-businesses-post-the-pandemic/#respond Mon, 14 Dec 2020 05:09:00 +0000 https://punediary.com/?p=3675

Bengaluru, 10th December, 2020:Instamojo, a full-stack solutions provider for MSMEs, has enabled the digitization of more than 2 lakh small businesses across the country, across the last two quarters. In fact, data from the platform showed that more than 70% of the merchants on-boarded did not have any form of online or digital presence before.  […]

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Bengaluru, 10th December, 2020:Instamojo, a full-stack solutions provider for MSMEs, has enabled the digitization of more than 2 lakh small businesses across the country, across the last two quarters. In fact, data from the platform showed that more than 70% of the merchants on-boarded did not have any form of online or digital presence before.  With the pandemic bringing about a 360-degree digital shift, businesses are today taking to online solutions in order to survive and cater to an evolving customer segment. Instamojo offers merchants a host of digital products and solutions ranging from online payments, credit services, logistics, e-commerce, and marketing.

Post the early days of the pandemic, the Instamojo platform onboarded businesses across various categories ranging from education to IT, food and retail, entertainment, travel religion, and toys and gifts. The platform witnessed maximum sign-up in the category of Education & Jobs which contributed close to 20% of the merchant pool, followed by the services sector at15%. Sectors such as Not for Profit, and financial services and products saw a contribution of 4% and 2.61% respectively. Below is a representation of some of the sectors and the percentage contribution.

SECTOR

% OF MERCHANTS ON-BOARDED
Education & Jobs 20
Services 15
Books & Magazines 9.58
Business-to-Business 7.06
Clothing & Accessories 6.56
Not for Profit 4
Financial Services & Products 2.61
Religion & Spirituality 0.42
Pets and animals 0.30

Small businesses from Tier 1 cities contributed to maximum merchant signups with Delhi topping the list followed by Pune, Hyderabad, Bengaluru, and Mumbai.

RANK REGION % OF SIGN-UPS
1 Delhi 13
2 Pune 11
3 Hyderabad 9
4 Bangalore 8
5 Mumbai 7.5

Tier 2 cities also witnessed several merchants taking the digital path. The cities of Patna, Lucknow, Jaipur, Ahmedabad, Bhubaneshwar, Bhopal, and Guwahatitopped the charts. The platform also had merchants from Ludhiana, Raipur, Meerut, and the North-Eastern city of Imphal signup on the platform.

Sharing his views, Akash Gehani, Co-Founder & COO, Instamojo said, “The current times are a true testament of growth amidst challenges. Along with the several obstacles that the pandemic introduced, it was also instrumental in bringing about a digital wave which is a small way that paved the way towards digital progress for MSMEs across the country. For most traditional businesses who showed great resistance towards making the digital shift, this is a start point that also contributing to the larger agenda of Digital India.

He further added, “Though the digital way of life was not new in urban areas, an interesting trend we observed was the traction gained from Tier-II cities like Jaipur, Ahmedabad, Indore, and Patna – digital adoption in these cities have picked up well, compared to Pre-Covid times. The pandemic has been a great accelerator for small businesses in these markets to establish an online presence for the first time. Through our unique digital solutions ranging from payments to setting up an online shop, we at Instamojo aim to empower and support micro-businesses across the country with the right growth enabling digital solutions.”

About Instamojo:

Instamojo is a growth gateway platform for Micro, Medium & Small Enterprises (MSMEs) that enables them to build, manage, and grow their business online. It is a one-stop-shop for an entrepreneur that caters to their diverse business needs by leveraging technology,​ data​​ , and ​​design. Founded in 2012 by Sampad Swain, Akash Gehani, and Aditya Sengupta, Instamojo early this year raised Series B funding from Gunosy Capital, AnyPay-a Japanese payments firm, and the existing VCs. ​In November 2014, the company raised USD 2.6 million in Series A funding from Kalaari Capital, Blume Ventures, 500Startups, and others. Prior to this, it had raised approximately USD 500,000 from 500 Startups, Blume Ventures, and angel investors Rajan Anandan, Sunil Kalra,​​ Shailesh Rao, ​​Rob ​​de ​​Heus​​ among​​ others. In 2012, Instamojo was one of the first startups from India to join the prestigious 500Startups Silicon Valley Accelerator​​ Program. ​​It ​​has ​​also ​​been​​ featured​ ​as ​​one ​​of ​​the ​​hottest ​​start-ups ​​by ​​Economic ​​Times​​ in ​​2015. Instamojo constantly works towards creating significant innovation in digital commerce, which is universally accessible to create newer opportunities & sustainable livelihoods for MSMEs.

 For more information, please contact:

Chayanika Goswami | 9663219944 | chayanika@instamojo.com

Amrutha Moorthy | 9739961873 | amrutha.moorthy@adfactorspr.com

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Digital payment adoption highest during the pandemic: Pune comes second in the list -Instamojo report https://punediary.com/digital-payment-adoption-highest-during-the-pandemic-pune-comes-second-in-the-list-instamojo-report/ https://punediary.com/digital-payment-adoption-highest-during-the-pandemic-pune-comes-second-in-the-list-instamojo-report/#respond Fri, 11 Dec 2020 05:21:17 +0000 https://punediary.com/?p=3658

Pune, 10th December, 2020:Instamojo, a full-stack solutions provider for MSMEs, has enabled the digitization of more than 2 lakh small businesses across the country, across the last two quarters. In fact, data from the platform showed that more than 70% of the merchants on-boarded did not have any form of online or digital presence before.  […]

The post Digital payment adoption highest during the pandemic: Pune comes second in the list -Instamojo report appeared first on PuneDiary.Com.

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Pune, 10th December, 2020:Instamojo, a full-stack solutions provider for MSMEs, has enabled the digitization of more than 2 lakh small businesses across the country, across the last two quarters. In fact, data from the platform showed that more than 70% of the merchants on-boarded did not have any form of online or digital presence before.  With the pandemic bringing about a 360-degree digital shift, businesses are today taking to online solutions in order to survive and cater to an evolving customer segment. Instamojo offers merchants a host of digital products and solutions ranging from online payments, credit services, logistics, e-commerce, and marketing.

Post the early days of the pandemic, the Instamojo platform onboarded businesses across various categories ranging from education to IT, food and retail, entertainment, travel religion, and toys and gifts. The platform witnessed maximum sign-ups in the category of Education & Jobs which contributed close to 20% of the merchant pool, followed by the services sector at15%. Sectors such as Not for Profit, and financial services and products saw a contribution of 4% and 2.61% respectively. Below is a representation of some of the sectors and the percentage contribution.

SECTOR

% OF MERCHANTS ON-BOARDED

Education & Jobs 20
Services 15
Books & Magazines 9.58
Business-to-Business 7.06
Clothing & Accessories 6.56
Not for Profit 4

Financial Services & Products

2.61
Religion & Spirituality 0.42
Pets and animals 0.30

Small businesses from Tier 1 cities contributed to maximum merchant signups with Delhi topping the list followed by Pune, Hyderabad, Bengaluru, and Mumbai.

RANK REGION % OF SIGN-UPS
1 Delhi 13
2 Pune 11
3 Hyderabad 9
4 Bangalore 8
5 Mumbai 7.5

Tier 2 cities also witnessed several merchants taking the digital path. The cities of Patna, Lucknow, Jaipur, Ahmedabad, Bhubaneshwar, Bhopal, and Guwahatitopped the charts. The platform also had merchants from Ludhiana, Raipur, Meerut, and the North-Eastern city of Imphal signup on the platform.

Sharing his views, Akash Gehani, Co-Founder & COO, Instamojo said, “The current times are a true testament of growth amidst challenges. Along with the several obstacles that the pandemic introduced, it was also instrumental in bringing about a digital wave which is a small way that paved the way towards digital progress for MSMEs across the country. For most traditional businesses who showed great resistance towards making the digital shift, this is a start point that also contributing to the larger agenda of Digital India.

He further added, “Though the digital way of life was not new in urban areas, an interesting trend we observed was the traction gained from Tier-II cities like Jaipur, Ahmedabad, Indore, and Patna – digital adoption in these cities have picked up well, compared to Pre-Covid times. The pandemic has been a great accelerator for small businesses in these markets to establish an online presence for the first time. Through our unique digital solutions ranging from payments to setting up an online shop, we at Instamojo aim to empower and support micro-businesses across the country with the right growth enabling digital solutions.”

About Instamojo:

Instamojo is a growth gateway platform for Micro, Medium & Small Enterprises (MSMEs) that enables them to build, manage, and grow their business online. It is a one-stop-shop for an entrepreneur that caters to their diverse business needs by leveraging technology,​ data​​ , and ​​design. Founded in 2012 by Sampad Swain, Akash Gehani, and Aditya Sengupta, Instamojo early this year raised Series B funding from Gunosy Capital, AnyPay-a Japanese payments firm, and the existing VCs. ​In November 2014, the company raised USD 2.6 million in Series A funding from Kalaari Capital, Blume Ventures, 500Startups, and others. Prior to this, it had raised approximately USD 500,000 from 500 Startups, Blume Ventures, and angel investors Rajan Anandan, Sunil Kalra,​​ Shailesh Rao, ​​Rob ​​de ​​Heus​​ among​​ others. In 2012, Instamojo was one of the first startups from India to join the prestigious 500Startups Silicon Valley Accelerator​​ Program. ​​It ​​has ​​also ​​been​​ featured​ ​as ​​one ​​of ​​the ​​hottest ​​start-ups ​​by ​​Economic ​​Times​​ in ​​2015. Instamojo constantly works towards creating significant innovation in digital commerce, which is universally accessible to create newer opportunities & sustainable livelihoods for MSMEs.

 For more information, please contact:

< Chayanika Goswami | 9663219944 | chayanika@instamojo.com>

<Amrutha Moorthy | 9739961873 | amrutha.moorthy@adfactorspr.com>

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49% of Indian MSMEs still prefer traditional lending channels over digital: Instamojo report https://punediary.com/49-of-indian-msmes-still-prefer-traditional-lending-channels-over-digital-instamojo-report/ https://punediary.com/49-of-indian-msmes-still-prefer-traditional-lending-channels-over-digital-instamojo-report/#respond Wed, 27 Nov 2019 06:46:49 +0000 https://punediary.com/?p=2928 Instamojo

Bangalore, 19th November, 2019:Instamojo, an online platform for Micro, Small, and Medium Enterprises to start, manage and grow their business online today launched the second edition of their Indian MSME Impact Report 2019. After a detailed six month analysis on the MSME sector, the report highlights four areas of concerns pertaining to the MSME sector […]

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Instamojo

Bangalore, 19th November, 2019:Instamojo, an online platform for Micro, Small, and Medium Enterprises to start, manage and grow their business online today launched the second edition of their Indian MSME Impact Report 2019. After a detailed six month analysis on the MSME sector, the report highlights four areas of concerns pertaining to the MSME sector – defining an MSME-preneur, challenges faced, value perception of Fin-tech and business transformation.

The MSME sector’s contribution to the country’s GDP currently lies at 29%, given an overall population of 63.4 million MSMEs spread across the country. While the government defines an MSME based only on their annual turnover, this report, however, defines the persona of an MSME basis primary parameters such as ‘Goods vs Services classification’, Meta categorization of business categories, Type of infrastructure invested in, and Nature of activity within the industry chain.

The report also highlights that although 75% of the MSMEs believe that technology helps solve major Dichallenges pertaining to operations, the other 25% of MSMEs, however attribute this to other factors such as unavailability of skilled labour and lack of understanding of technology. After the implementation of GST, an estimated 9.2 million MSMEs registered under GST which is an increase of 50% over the previous tax regime. There is high probability that MSMEs will adopt business analytics tools given that 47% of them have adopted digital tools for business processes, payments, and online sales in India.The MSME sector makes up for a large chunk of the Indian economy, employing more than 117 million people and contributing to making India a $5 trillion economy.  However, the sector still faces several roadblocks like the lack of tech knowledge or the absence of skilled workforce. We at Instamojo have always worked towards empowering Indian MSMEs through various digital solutions, addressing the gaps in their growth story. Through our report, we envision to be the voice of the MSMEs by bringing to the forefront facts that will open further channels toward development,”said Sampad Swain, Co-Founder & CEO, Instamojo.

Although demonetization provided a much-needed push to digitization of payments in India, the demand for cash is yet on a surge with a total cash withdrawal record of INR 33 trillion in FY 2018-19 in comparison to INR 23.6 trillion in FY 2016-17 – a surge of 40.27%. The report elucidates that majority of the MSMEs rank payment gateway links as the most trusted channel, while 49% still prefer traditional sources of lending versus online peer-to-peer platforms.

The findings also suggest that 35% of MSMEs shifted to digital payments, given the ease of transaction, 9% for the availability of data synchronization and privacy features, and 11% due to customer preference.

With a 1 million strong, satisfied, customer base Instamojo continues to invest in its current and near-future product features. Instamojo provides a host of services ranging from digital payments, logistics to lending. The survey captured customer perceptions of the performance of Instamojo’s products with the payment links ranking as the most used product, followed by the payment gateway and their online store. As part of their upcoming plans, Instamojo aims to introduce promotional services, helping the MSME sector stay relevant in a competitive digital business landscape.

About Instamojo:

Instamojo is a growth gateway platform for Micro, Medium & Small Enterprises (MSME’s) that enables them to build, manage and grow their business online. It is a one-stop-shop for an entrepreneur that caters to their diverse business needs by leveraging technology,​ data​​ and ​​design. Founded in 2012 by Sampad Swain, Akash Gehani and Aditya Sengupta, Instamojo early this year raised Series B funding from Gunosy Capital, AnyPay-a Japanese payments firm and the existing VCs. ​In November 2014, the company raised USD 2.6 million in Series A funding from Kalaari Capital, Blume Ventures, 500 Startups and others. Prior to this, it had raised approximately USD 500,000 from 500 Startups, Blume Ventures and angel investors Rajan Anandan, Sunil Kalra,​​ ShaileshRao, ​​Rob ​​de ​​Heus​​ among​​ others. In 2012, Instamojo was one of the first startups from India to join the prestigious 500Startups Silicon Valley Accelerator​​ Program. ​​It ​​has ​​also ​​been​​ featured​ ​as ​​one ​​of ​​the ​​hottest ​​start-ups ​​by ​​Economic ​​Times​​ in ​​2015. Instamojo constantly works towards creating significant innovation in digital commerce, which is universally accessible to create newer opportunities & sustainable livelihoods for MSMEs.

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