Instamojo today announced its acquisition of GetMeAShop (A business of Times Internet Ltd), a digital commerce platform for MSME. Instamojo, through its first acquisition will expand its digital solution offerings to empower its +1 million merchant base.
Established in 2012, Instamojo began its journey as a digital payment solution provider and has progressively grown into an online platform for Micro, Small, and Medium Enterprises to start, manage, and grow their businesses online. Over the past 5 quarters, Instamojo also introduced unique credit products and logistics services under the banner of mojoCapital and mojoXpress respectively.
Speaking on the acquisition, Sampad Swain, CEO & Co-founder of Instamojo said, “From the initiation of Instamojo, the primary goal was always to ease business operations for small and medium businesses. With the gradual digitization of sectors, we understood that the challenges faced by MSMEs are beyond just digital payments. Limited access to credit, competition from e-commerce platforms and cash flow were some of the growth obstacles, along with low access and technical knowledge which posed a greater threat. With the GetMeAShop acquisition, the Instamojo suite of offerings will meaningfully expand to enable business owners with web presence tools to start, manage and grow in the rapidly growing tech ecosystem.”
GetMeAShop is a holistic SaaS platform, helping SMBs adopt and leverage technology without any prior technical know-how. It encompasses a website and online store builder, logistics providers, CRM, native Android and iOS mobile apps, social selling via WhatsApp and Facebook, Marketing tools – SMS, Email, push notifications and robust analytics.
Speaking about integrating with Instamojo, Pushkal Srivastava, founder and CEO of GetMeAShop said, “We’re very excited to join the Instamojo family. With a common mission to enable MSMEs it’s a partnership which will give us distribution specific to the target segment we’ve been going after for all these years. And with our full-stack SaaS offering for MSMEs with web/ commerce builder, CRM and analytics built-in we augment the existing offerings of Instamojo perfectly. It’s a 1 plus 1 equals 11 combination. Looking forward to an amazing journey of growth and empowerment of SMEs.”
Sharing his thought on the acquisition, Abhishek Mitra Gupta, VP – Times Internet Ltd said, “The combination of Instamojo and GetMeAShop is a potent combination and creates the solution that MSMEs in India always wanted. The combination will help Indian MSMEs to take their offerings online without any friction. We have immense faith in the combined leadership of Instamojo and GetMeAShop and look forward to being long term partners. Both teams strive for their customers’ success, it is a must-watch journey.”