Instamojo launches mojoCapital, mojoXpress in Jaipur

Instamojo, the digital payment platform and service provider for MSMEs, Thursday said it has launched its new lending and logistics services mojoCapital and mojoXpress in Jaipur.

"The launch of these two services will further empower 6.3 crore Micro, Small & Medium Enterprises (MSMEs) in the country, including 26.87 units across Rajasthan," Chief Operating Officer Akash Gehani said here.

With e-commerce booming, it becomes essential for small businesses to digitally evolve in order to stay relevant in competitive environment and Instamojo's digital payment solutions and the newly introduced lending and logistics solutions will help small businesses overcome these obstacles, he said.

MSMEs on its platform can avail short term credit to fulfill everyday business-related financial requirements through sachet loans, a byte-sized micro credit facility, under mojoCapital, the COO said.

The company has partnered with banks and finance institutions to launch mojoCapital.

The second product 'mojoXpress' is for catering day-to-day logistics and delivery requirements of MSMEs. The company has partnered with leading logistics service providers to deliver reliable services to its registered merchant customers, he added.