Instamojo records 150 per cent Y-o-Y growth, becomes EBITDA profitable as of FY23 in its new avatar
I
ndia's simplest all-in-one #D2CTech platform for businesses has recorded a 150 per cent Y-o-Y growth to become EBITDA profitable in 2023. The company turned profitable within just two years after announcing its pivot, from being a payment links company to an all-in-one platform that takes care of everything that a business owner needs when selling their products and services online. Instamojo currently offers merchants digital solutions which include online payments, logistics, credit services, a free learning platform called mojoversity and more for businesses and their owners to gain visibility online.
Commenting on achieving a key business milestone, Sampad Swain, CEO and Co-founder, Instamojo said, "We are living in a D2C 2.0 era where homegrown businesses are leveraging the power of the internet to acquire a global market for their products and services. However, when business owners decide to go online, they do not have access to a one-stop solution that can help with virtually everything - from setting up their website, to managing their customers on a regular basis. This is where Instamojo comes in. This has proven to be a lucrative market for us in the last two years. With our new avatar as the #D2CTech enablement platform, we are not only championing the cause for every Indian business to go online, but also we remain deeply involved in making the process so intuitive that it becomes second nature. This philosophy has helped our business clock rapid strides of growth while at the same time helping us chart the discourse of a reimagined D2C boom in India."
Other stats depicting growth on the platform
- Business enrolment numbers recorded a spike with maximum traction from Mumbai amongst the metros which saw a 746 per cent jump (versus FY22), and Kochi from non metros which recorded a 689 per cent increase
- The top 10 Tier II and III towns contributing to business enrolments include Indore, Guwahati, Ludhiana, Bhubaneswar, Surat, Coimbatore, Nagpur, Kochi, Bhopal, Siliguri
- On the other hand, the platform also saw a 15 per cent growth in the number of consumers who have either bought products or availed services via Instamojo
- Markets contributing highest revenue In order of ranking, Bengaluru stood first followed by Delhi/NCR and Mumbai
- In terms of D2C category growth on the Instamojo platform, Apparel and Footwear grew by 203 per cent, Arts and Crafts grew by 148 per cent while Food and Grocery grew by 275 per cent
It's 2023, we are not a payments' gateway company. is the one-stop #D2CTech company, offering an enabling platform for MSMEs and D2C brands, empowering sellers to start, scale, and manage their businesses online. Since its inception in 2012, Instamojo has ably addressed and resolved the last mile needs of its customers, having enabled million+ MSMEs' custodians. Founded by Sampad Swain, Akash Gehani, and Aditya Sengupta, Instamojo fuels India's entrepreneurial passion with a continued commitment as a one-stop-solution for business owners. It has raised Series B (2020) and Series A (2014) funding from Kalaari Capital, Blume Ventures, 500 Startups, Gunosy Capital, and AnyPay - a Japanese payments firm. Instamojo is all set to reshape the future discourse in the D2C space by catering to diverse seller needs, powered by the collective force of technology, data and design.
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✔️ Instamojo records 150 per cent Y-o-Y growth, becomes EBITDA profitable as of FY23 in its new avatar
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