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New launches, zero cash burn make Instamojo profitable amid Covid-19 crisis

The Covid-19 pandemic, which had put a question mark on the company's performance, is now turning out to be a life altering event for the company

Sampad Swain, founder and chief executive officer, Instamojo
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We have seen transactions on our platforms growing between 20-30 per cent in all the verticals we cater to, except for travel, said Sampad Swain, founder and chief executive officer, Instamojo

Samreen Ahmad Bengaluru
Sampad Swain, the co-founder and chief executive officer of payments and services start-up Instamojo, calls himself god’s luckiest child. His company, which started in 2012, has been on the verge of shutdown thrice in the past, but has always been rescued by investors.

The Covid-19 pandemic, which had put a question mark on the company’s performance, is now turning out to be a life altering event for the company. So much so that the Kalaari Capital and Blume Ventures-backed company claims that it becane profitable in June backed by new product launches and zero cash burn.

“We have seen transactions on our