Instamojo

Instamojo Inc. is a web-based Indian startup payment gateway, founded in 2012 by Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain. It is based in Bangalore, India.
Instamojo sells digital goods and collects payments online. Instamojo offers a payment gateway product. The company claims to provide services to 150,000+ businesses across India to collect payments online and over 1.2 million people have made transactions.
Services
It primarily provides customers a platform to sell digital goods by listing the item on the website and sharing the web link with others. Instamojo pays the seller 95 percent of every successful transaction for digital goods and 98.1 percent of every successful transaction for physical goods and products not hosted on their servers.
Swain, co-founder at the startup said he got the idea for Instamojo when he started a newsletter containing video interviews of entrepreneurs.
In August 2016, Instamojo also launched UPI functionality and had partnered with ICICI bank for the services.
Funding
The company was selected in the fifth batch of 500 Startups in October 2012 and has received funding from angel investors like Rajan Anandan, VP & MD of Google, South East Asia & India and Sunil Kalra.
Instamojo secured $500,000 in 3 rounds from 8 investors of which the most recent one was the Series A funding on November 13, 2014. In this round of funding Instamojo raised $2.6 million funding and was led by Kalaari Capital, 500 startups, Blume ventures and others .

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