India: Instamojo acquires digital commerce startup GetMeAShop

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.

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