Instamojo Raises Funding
Instamojo, a Mumbai, India-based startup that operates a platform allowing users to buy and sell digital items, raised a funding of undisclosed amount.
Backers included Blume Ventures and (maybe) other private investors.
The company had previously raised funding from Rajan Anandan, Sunil Kalra and DaveMcClure’s 500 Startups, where the company is currently incubated.
Founded in late 2010 by Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain, Instamojo lets users sell their digital creations (ebooks, online tutorials, research reports, photographs, software, handcrafted digital illustrations, templates, etc.) for a specific price via a quick checkout system.
It manages the hosting, security, payment processing and delivery of the digital goods charging a 10% fee on each paid transaction in return.