Bengaluru-based Instamojo looks at acquisition to boost e-commerce business

After launching the lending arm in September last year, the firm has disbursed loans worth Rs 120 crore

Bengaluru-based digital payments and services start-up Instamojo is in talks to acquire an online platform to strengthen its e-commerce business, a top company executive said on Friday. The deal is likely to close by the end of the month. The company hopes the acquisition will boost its e-commerce arm.

“With this acquisition, our e-commerce story will become solid,” said Sampad Swain, co-founder and chief executive officer of Instamojo. Founded in 2012, Instamojo is a full-stack online commerce platform, which empowers small businessmen in the services sector through its bouquet of three services — online payment, e-commerce, and lending. The Kalaari Capital-backed