Mastercard purchases stake in fintech startup Instamojo
Instamojo is a platform that offers MSMEs a ready-made virtual platform to set up an e-commerce business
The funding will strengthen the efforts to support MSMEs and gig economy workers
The partnership aims to bring one billion people and 50 million MSMEs into the digital economy by 2025
Indian and global financial majors have been increasingly buying stakes in the fintech startup ecosystem
Mastercard committed Rs 250 Crore to support small businesses in India last year
