In brief: Indian payment startup nets $7m to develop mobile app

Bengaluru-based fintech startup Instamojo has raised US$7 million in series B funding round from a clutch of investors, which includes AnyPay, Gunosy Capital, Kalaari Capital, and Rashmi Kwatra.

Instamojo plans to use the fresh capital to develop its mobile app, with all the embedded features available on the desktop version. It also plans to double its headcount and expand its existing businesses.

Source: Economic Times