Instamojo to launch advertising services, Mojoads
The launch of Instamojo's new advertising service follows the launch of its logistics service, Mojoexpress, and lending service MojoCapital
Instamojo, the online payment and lending platform will soon launch its advertising services, Mojoads by the end of 2018, according to reports. Mojoads will focus on micro, small and medium enterprises (MSMEs) and aims to expand revenue from non-payment businesses.
The launch of Instamojo's new advertising service follows the launch of its logistics service Mojoexpress, and lending service MojoCapital. It is expected that 30%- 35% of revenue will come from these services.
A fresh round of investment of $4 million from Kalaaria Capital and AnyPay last year has been the driving factor behind Instamojo's expansion. The company has since been able to cut losses while increasing profits, as losses stood at Rs 3.25 crore last year compared to Rs. 5.18 crore in 2016, whereas, revenue in 2017 grew from Rs.3.96 crore in the previous year to Rs 6.25 crore last year.
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