Instamojo reports revenue growth from Online stores

Instamojo, the digital solutions provider has recorded a five-fold annual growth in enrolments of its monthly paid subscribers since February 2021. 

The company entered the e-commerce segment in early 2021 with a product suite empowering D2C brands to launch their independent online stores. With more businesses shifting to the digital market, 20% of Instamojo’s annual revenue is contributed by revenue from e-commerce stores. The company claims to have a merchant base of 2 million small business owners. 

The CEO and co-founder of Instamojo, Sampad Swain has said that the company is consistently working towards enabling as many entrepreneurs as possible across India and helping them to find digital and financial independence. 

The e-commerce outlook of Instamart recently recorded a 23% rise in new users logging in through phones. Swain said that the pandemic continued to bring out new challenges over the past year but it has also caused a shift in consumer behaviour during this time. It compelled brands to rethink their business strategies to serve their customers better. 

The company also said that 40% of the entrepreneurs who have signed up with it in 2021. As more entrepreneurs and small businesses learn the benefits of selling independently online.