Multimodal low‐cost endoscopy is highly desirable in poor resource settings such as in developing nations. In this work, we developed a smartphone‐based low‐cost, reusable tethered capsule endoscopic platform that allows white‐light, narrowband, and fluorescence/autofluorescence imaging of the esophagus. The ex‐vivo studies of swine esophagus were performed and compared with a commercial endoscope to test the white‐light imaging capabilities of the endoscope. The efficacy of the capsule for narrow‐band imaging was tested by imaging the vascularization of the tongue. To determine the autofluorescence/fluorescence capability of the endoscope, fluorescein dye with different concentrations was imaged. Furthermore, swine esophagus injected with fluorescein dye was imaged using the fluorescence/autofluorescence and the white‐light imaging modules, ex‐vivo. The overall cost of the capsules is approximately 12 €, 15 €, and 42 € for the white light imaging, the narrow‐band imaging, and the fluorescence/autofluorescence imaging respectively. In addition, the cost of the laser source module required for the narrow‐band imaging and the fluorescence/autofluorescence imaging is approximately 218 €. This device will open the possibility of imaging the esophagus in underprivileged areas.