Bengaluru-based payment gateway provider Instamojo has launched new lending and logistics services, namely mojoCapital and mojoXpress respectively, in Jaipur.
With the booming e-commerce market and the rising e-commerce startups, Instamojo is looking to leverage the opportunity, to help the micro, small and medium enterprises (MSMEs), to grow their businesses, leveraging the technology.
Talking about the new services, Akash Gehani, Chief Operating Officer of Instamojo, said, “The launch of these two services will further empower 6.3 crore Micro, Small & Medium Enterprises in the country, including 26.87 units across Rajasthan.”
As the e-commerce space gets crowded, it becomes important for small businesses to evolve, in order to stay competitive. These new services are aimed at solving crucial lending and logistics issues plaguing the small businesses.
The startup has partnered with a number of banks and financial institutions to launch mojoCapital, to help its customers avail easy short-term micro credit, for daily business requirements.
It has further partnered with leading logistics service providers, to help registered small businesses on its platform, with their day to day logistics and delivery needs.
Instamojo was founded by Sampad Swain, Akash Gehani, Aditya Sengupta, and Harshad Sharma in 2012. It provides a multi-channel payment gateway to enable SMEs to manage and grow their business.
So far, the startup has enabled more than 600,000 businesses across the country.