Instamojo acquires Times Internet’s GetMeAShop to serve more small enterprises in India

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Instamojo, a Bangalore-based startup that helps merchants plus small businesses accept digital obligations and sell on the web, has obtained Gurgaon-based startup GetMeAShop .

The deal is worth $5 million and includes conglomerate Times Internet making an investment within Instamojo , Sampad Swain, co-founder and chief executive of the Bangalore-based startup, told TechCrunch within an interview.

Billions of people have come online within India in the last decade because of proliferation of low-cost Google android smartphones and availability for some of the world’ s least expensive mobile data plans. Several small businesses, especially neighborhood shops and merchants, remain off-line.

A influx of startups in the country nowadays are trying to make it easier for people merchants and businesses in the future online.   GetMeAShop any such startup. It operates a platform that allows companies to set up their website, build an internet store, and make it simpler for merchants or people to engage with — promote to — their clients through social apps for example WhatsApp and Facebook.

For Instamojo, this particular acquisition is not surprising. The particular seven-year-old startup began the journey as a payments supplier for small businesses. Over the years, it offers launched an online store, plus a lending service to function more needs of a company.

Two years back, the startup added strategies service to the platform by means of partnership with a handful of companies in the nation, allowing the merchants to have their deals picked up from their doorstep.

“ This pay for will allow us to become a full-on operating system for businesses, ” said Swain.

Instamojo has amassed one 2 million merchants upon its platform. “ This took us seven yrs to get a million merchants over the platform. Now we are increasing the than 2, 000 each day. We are on track to hit two million merchants by the end of the year, ” he mentioned.

The startup company also operates an app-store that allows developers to use Instamojo’ s system to build their very own apps and make money. Instamojo currently does not charge any kind of commission to its programmers, but in the future it programs to explores monetization possibilities.

Pushkal Srivastava, founder and chief executive associated with GetMeAShop, said the exchange will give the startup entry to “ distribution specific towards the target segment we’ ve been going after for all these types of years. ” He additional, “ with our full-stack SaaS offering for MSMEs along with web and commerce constructor [and] CUSTOMER RELATIONSHIP MANAGEMENT and analytics built-in, we all augment the existing offerings associated with Instamojo perfectly. ”

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