Instamojo is an Indian startup whose aim is to make peer-to-peer transactions easier and thus create a freer marketplace than what currently exists online. Medianama reports that the startup has raised an undisclosed amount in funding from Blume Ventures, a venture capital firm which has previously invested in Madrat Games, Framebench, Hashcube, 23spaces, Exotel, Covacsis, RedQuanta and others.
Instamojo offers users the ability to sell digital products on its platform. The list of things you can sell includes designs, templates, your DIY products, a piece of software that your wrote, an ebook you wrote etc. The platform can also be used to sell physical goods. The service claims that they have a 1 step checkout process which helps users buy goods in a snap. The service takes care of everything from hosting, making a profile for your item, generating a unique URL and payment processing.
The startup was founded in 2010 by Sampad Swain, Aditya Sengupta, Akash Gehani and Harshad Sharma and has already raised 2 round of funding previously – one from Rajan Anandan and Sunil Kalra and the other from 500 Startups. The company has been inducted into 500 Startups’ incubation program and will be demoing their product for international investors later this week in NYC and San Francisco.