Instamojo picks up pre-Series B funding round

Payments provider Instamojo has reportedly raised an undisclosed amount for its pre-Series B, which was led by Anypay.

Kalaari Capital also took part in the funding round, according to an article by The Economic Times.

India-based Instamojo allows users to collect payments from anywhere including SMS, email, Whatsapp, Facebook, websites and others. The platform accepts payments from credit and debit cards, wallets, net banking, UPI and EMI.

A client can create a payment link and then share it via a range of apps, each transfer has a cost of 2 per cent plus ?3 ($0.05). Through the platform users can track sales, invoices and gain access to analytics.

With the capital, Instamojo hopes to expand to new areas and enhance the platform for its users, the report said.

The company Series A pulled in $2.6m in 2014, which saw commitments from firms including Kalaari Capital, Blume Ventures, and 500 Startups, among others.

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