Instamojo, a growth gateway platform for Micro, Medium & Small Enterprises (MSME’s) that enables them to build, manage and grow their business online, has announced permanent work from home as a flexi-working option for employees. With that development, the startup has recruited over 50 percent of its new hires form Tier 2 and 3 cities.
The company said in a release, “A year since the pandemic, India Inc has now become accustomed to the new normal which also introduced the trend of remote hiring. With no barriers of location, Instamojo had access to a wider pool of talent to choose from, especially for technical roles. With an employee strength of 140 people across the country, the recent hiring cycle saw new hires from Tier II and III towns such as Krishnagiri, Kolar, Dehradun and Sitapur.”
In the last three months, the company has onboarded new employees across multiple verticals including tech, marketing and product teams. Founded in 2012 by Sampad Swain, Akash Gehani and Aditya Sengupta, Instamojo was one of the first startups from India to join the prestigious 500Startups Silicon Valley Accelerator Program. It has also been featured as one of the hottest start-ups by Economic Times in 2015. Instamojo constantly works towards creating significant innovation in digital commerce, which is universally accessible to create newer opportunities & sustainable livelihoods for MSMEs. The company recently raised Pre-Series C funding to expand their business and enter overseas markets.
Commenting on the company’s recent hiring cycle, Akash Gehani, Co-Founder & COO, Instamojo said, “The pandemic brought in an array of changes, not just impacting the economy but the way India Inc coped too. Geographical locations were no more a barrier, and with COVID-19 changing work norms across organizations, hiring also witnessed a 360 degree shift. Candidates were hired and on-boarded virtually. While this helped us widen our access to reach the right candidates, new hires had the benefit to work out of their hometowns and continue to contribute to the company. With a current strength of around 140 employees, we are fairly well staffed and aim to end the quarter with around 160 employees.”
Gehlani added, “Flexibility at work is an essential feature today, while employees look for options to maintain a work-life balance. At Instamojo, along with the introduction of the permanent work-from-home feature, we plan to continue following our work from anywhere policy, with our office space open and accessible to all employees.”
As part of the prestigious 500Startups Silicon Valley Accelerator Program in 2012, the startup had raised approximately US$500,000 from 500 Startups, Blume Ventures and angel investors Rajan Anandan, Sunil Kalra, Shailesh Rao, Rob de Heus among others. Two years later in 2014, the company raised US$2.6Mn in Series A funding from Kalaari Capital, Blume Ventures, 500Startups and others. In Jan 2019, Instamojo raised Series B funding from Gunosy Capital, AnyPay-a Japanese payments firm and the existing VCs.
With accelerated digital adoption, Instamojo strives to transform micro businesses into digitally independent entrepreneurs. Through the ongoing crisis, the company launched several products to address the timely need of small businesses that were grappling to survive, and consequently recorded a 25% growth in merchant base.
As SMBs continue to grapple with the crisis for survival and outpacing competition, digital is a key arsenal to accelerate progress and access the best of talent beyond geographical boundaries. By evolving mindsets and updating workflows, organizations that tap into the benefits of remote working stand a good chance to not just sustain themselves, but fast track growth as efforts are directed towards moving forward with the new, than holding onto the workstyles that once existed.