Bengaluru-headquartered Instamojo, a micro products and digital payments platform for SMEs, has shared its annual performance report for FY 18.\r\n\r\nIn the latest\u00a0blog post, Sampad Swain, CEO and Co-founder, Instamojo wrote, \u201cThe first half of FY18 was the toughest for team Instamojo. If not for an internal cost rationalization, while pushing the pedal for growth, we could very well have shut down.\u201d\r\n\r\nAs the internal cost rationalisation helped the company keep the engines running, the company found funding support from AnyPay, a Japanese payments firm that wanted to explore the Indian MSME segment. With Pre Series-B funding from AnyPay, Beenext, Dream Incubator Japan and few others, Instamojo has raised $7 Mn in total. With this, the company is well capitalised for its core business for next 18-24 months, Swain shared.\r\n\r\nHowever, despite the challenges of the year, Instamojo has recorded growth of 118%, 41%, and 52% in GMV, total seller addition, and net new active seller addition respectively vs FY17. A significant achievement here is the falling of customer acquisition cost by 11% on a blended basis. The company further utilised\u00a0machine learning in many areas like assisted support and inside sales to focus on driving efficiency.\r\n\r\nHere are some major numbers showcased by Instamojo in FY18:\r\n\r\n\r\nInstamojo: Strategies And Goals Ahead For FY19\r\nWith an unprecedented growth in FY18, Instamojo is all set with its new strategies and goals for FY19.\u00a0Instamojo will now transition from \u201cjust payments\u201d to a \u201cone-stop transactions platform\u201d with the launch of VAS (value-added services) starting Q2FY19.\r\n\r\nFurthermore, the company will also release at least four game-changing products in FY19, namely Smart Links (payments), Instant Payouts (credit & lending), Integrated logistics services (shipping & delivery) & 3rd party apps integration (taxes, emails, invoices etc.)\r\n\r\nAs shared by Sampad, the team has also put forward its goals for FY 19. This includes:\r\n\r\n \tThe launch of a single integrated dashboard across mobile and desktop to start, manage and run your business\r\n \tSurpass a GMV run-rate of $ 923.7 Mn (INR 6000 Cr)\r\n \tBecome the first online transactions platform to surpass 1 Mn seller base\r\n \tAdd 100k new active sellers to become India\u2019s largest online transactions platform.\r\n\r\nFounded in 2012 by Akash Gehani, Harshad Sharma, and Sampad Swain, Instamojo allows users with a mobile device and a bank account to accept payments using credit and debit cards, e-wallets and via UPI. It helps merchants to create a digital footprint and manage their businesses online.\r\n\r\nThe Indian digital payments industry is projected to reach $500 Bn by 2020, contributing 15% to India\u2019s GDP, as per a recent report by Google and Boston Consulting Group.\r\n\r\nWith players like PayPal, PayU India, Payswiff, CCAvenue and Oxigen in digital payments, the success Instamojo has recorded in FY18, the promises of future growth and products have to be kept an eye on.