Instamojo, a full-stack transactional platform aimed at bringing small business online, has announced that it has raised an undisclosed sum of funding from investors including the venture arm of Japan’s Gunosy.
In a blog post, the Gunosy Capital Pte Ltd said it had made an additional investment in Instamojo.
As per Entrackr report, the investment is part of a Rs 50 crore Series B round for Instamojo, with the Japan-based Base also participating in the funding round.
The company will use the capital for expansion and to enter overseas markets, said Sampad Swain, CEO and co-Founder of Instamojo.
“Gunosy Capital has decided that Instamojo will continue to have great growth potential, taking into account the expansion of the company’s business scale so far, and has reached this additional investment,” according to the firm’s blog post.
Founded in 2012 by Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain, Instamojo claims it provides a simple & fast payment solution, business tools & valuable connections to the MSMEs that can help them get a headstart & grow confidently.
Earlier in 2019, Instamojo raised $7 million in a funding round led by AnyPay, along with Gunosy and existing investors Kalaari Capital and BeeNext.
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