BENGALURU: Instamojo, an e-commerce platform for D2C brands, is looking to be profitable by the end of this year. Its e-commerce vertical accounted for 18% of its total turnover for the first quarter of this year compared to 3% on a year-on-year (YoY) basis.
“We plan to expand the capabilities of e-commerce store builder and landing page builder significantly, adding options for more integrations and easier set up,” Sampad Swain, co-founder and CEO, Instamojo told TNIE. He added that they clocked a revenue of Rs 42 crore in FY22 and aim to achieve profitability by the end of 2022.
Instamojo, which has been in the market for a decade now, pivoted from fintech to ecommerce facilitation. It offers digital tools to help SMBs and D2C businesses to open their online stores. Since February 2021, the brand has recorded a 400% YoY growth in its first year post the launch of the beta version.
Swain said they plan to make the product accessible to millions of micro and small businesses who want to start their online brand presence and unlock new monetisation opportunities. Backed by Blume Ventures and Kalaari Capital, among others, over 4 lakh merchants have been onboarded with Instamojo over past year.