Instamojo has acquired GetMeAShop, a digital commerce platform for micro, small, and medium enterprises or MSMEs. The company hasn’t revealed the size of the deal however, sources aware of the transaction estimated it in the range of $5 million.
The Sampad Swain-led company is known for introducing new products and expanding its offerings for MSMEs. After launching khata-bahi service for SMEs, it’s now getting into the business of enabling online stores for small businesses.
Through its maiden acquisition, Instamojo intends to expand its digital solution offerings to empower its more than 1 million merchant base.
GetMeAShop is a SaaS platform that helps SMBs adopt and leverage technology without any prior technical know-how. The Gurugram-based startup’s offerings include website and online store building, providing logistics, CRM, mobile apps, social commerce via WhatsApp and Facebook, marketing tools such as SMS, email, push notifications and robust analytics.
The startup provides a solution for early to late-stage business starting from a subscription fee of Rs 25,000 per year.
In its seven-year-long journey, Instamojo has become a more holistic solution provider for MSMEs. Starting from a mere digital payment solution provider, the Kalaari-backed startup has progressively grown into an online platform for micro, small, and medium enterprises to start, manage, and grow their businesses online.
In recent times, Instamojo also introduced unique credit products and logistics services mojoCapital and mojoXpress.
One of the most talked-about products integrated by Instamojo is Credit Book. Like several startups, including OkCredit and Khatabook, Instamojo is targeting to transform traditional bahi-khata into a digital format to further reduce the pain point of bookkeeping.
Digital payments major Paytm had also entered the space by integrating the feature into its business app.
Last year, Instamojo had launched a learning and innovative platform for MSMEs – Mojoversity. This initiative by the company provides online video courses created by experts on the topic ranging from digital marketing, social media, finance, taxation, marketing and several other topics that a budding entrepreneur wanted to learn in quick time.