Bangalore: Instamojo, a Mumbai based startup which lets and encourages users to buy and sell their digital goods has raised undisclosed amount as funding from Blume Ventures, reports medianama.com.

Founded in 2010, Instamojo quickly attracted the interest of many investors as it began to change the concept of buying and selling online. It gives every registered user the liberty to sell reports, code, documents, photos, templates, tutorials, music, and videos, give out physical goods for free, or even time. Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain founded Instamojo and ever since its inception there was no looking back for the founders.

Prior to this, Instamojo had also raised investments from angels - Rajan Anandan and Sunil Kalra. Its revenue model revolves around a 10 percent fee that is charged on every paid transaction. There are similar startups in the same vertical doing the same business in the West but Instamojo has diversified a little by also promoting donation for genuine causes.

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