California and Bangalore-based micro product and services sales platform, Instamojo, launched two new features yesterday for simplifying payment options. It’s new features – ‘Request A Payment’ and ‘Bulk Requests’ helps people and businesses to collect money with ease, without going through the hassles of sharing bank account details.
The ‘Request A Payment’ option allows users can request payment from their customers by simply sending them a payment link to their e-mails or SMS inboxes. Users will have their Instapay profile prefilled with purpose and amount for each individual customer – a payment request link will be sent out to them via email or SMS. Customers can open their mail or message, click the link, fill payment details and pay. Instapay is a feature on Instamojo that lets users receive payment by simply sharing their unique Instamojo @username, without having to share banking details.
For users with multiple customers, the ‘Bulk Request’ feature would definitely come in handy. It allows users to send multiple requests at one go. All they have to do is simply upload a csv file with the email ids or phone numbers of their customers and amount to be paid. Instamojo will automatically send out requests, users will be notified as and when payments are received.
Instamojo was founded in 2012 by Akash Gehani, Harshad Sharma and Sampad Swain. In November last year, it raised an undisclosed amount in Series A funding from Kalaari Capital. Its previous investors Blume Ventures, US-based 500 Startups and others have also participated in this round.
It is backed and advised by prominent angel investors and venture capital firms like Rajan Anandan, Sunil Kalra, 500 Startups, Blume Ventures, Dave McClure, Rob de Heus, Thijs Gitmans, Pankaj Jain, Shailesh Rao, Bharathram Thothadri and Avlesh Singh.
