India: Instamojo acquires digital commerce startup GetMeAShop

Photo: Pixabay

City-based digital payment platform Instamojo has acquired Times Internet-owned GetMeAShop, a digital commerce platform for micro, small and medium enterprises (MSMEs), for $5 million in cash. This is Instamojo’s first acquisition since its inception in 2012, and will allow the startup to branch into software offerings.

Instamojo launched as a payment gateway for MSMEs, and later branched into an e-commerce platform for merchants to list and sell their products and services online. It had launched a lending product–MojoCapital–and a last-mile logistics service, branded MojoXPress, focused on its merchants in 2018.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter