Internet access driving SME revenue growth in smaller cities: Instamojo CEO

The firm aims to extend its wallet share to 70% by 2019 and grow its merchant base to one million in 2018

Micro, small and medium enterprises (MSME) in Tier-II and Tier-III cities are at par with their counterparts in metros in terms of revenue and growth in the last quarter, according to integrated solutions provider Instamojo.

Over the past year, MSMEs in Tier-I cities saw annual revenue more than double while small businesses from Tier-II and Tier-III markets registered 75 per cent growth in turnover.

However, in the last quarter, MSMEs from Tier-II and Tier-III markets from the events and financial services sector have witnessed a higher growth than Tier-I cities.

“Indian MSMEs in Tier-II markets have recognised the potential of