HomeFinanceInstamojo launches 'InstaCash' to help pandemic hit MSMEs

Instamojo launches ‘InstaCash’ to help pandemic hit MSMEs



Bengaluru based fintech startup Instamojo has announced the launch of ‘InstaCash’a working capital product for merchants selling on its platform.

In a statement issued, Instamojo said, “It will enable the merchants to avail the loans of up to Rs 1 lakh for a period of 7 to 14 days.”

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“Once the merchant places a request for the credit, the company will transfer the funds including convenience and processing fee charges,” the statement added.

Speaking on the launch, Sampad Swaim, Co-founder & CEO of Instamojo in his statement said, “The coronavirus pandemic has left micro-business reeling under the pressure to source fund for procuring raw materials, production, pay wages, etc. Through InstaCash we aim to empower micro-businesses through digitization.”

Adding to the statement, Akash Gehani, Co-founder & COO of Instamojo said, “With our new online store going live the loyalty points will help merchants explore additional features too.”


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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.

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