Best Fast Dropshipping Service & Business India

New Delhi: Paytm E-commerce has changed its name to Pai Platforms and has acquired Bitsila, a seller platform on ONDC, gaining share in the online retail business. According to sources aware of the development, the company had applied for a name change around three months ago and got the approval from the Registrar of Companies on February 8.

“… The name of the company has been changed from Paytm E-Commerce Private Limited to Pai Platforms Private Limited with effect from the date of this certificate… The company was originally incorporated with the name Paytm E-Commerce Private Limited,” according to a Registrar of Companies notification dated February 8.

Elevation Capital is the largest shareholder in Paytm E-commerce. It is also backed by Paytm Founder and CEO Vijay Shekhar Sharma, Softbank and eBay.

Sources said that the company has now acquired Innobits Solutions Private Limited (Bitsila) which was launched in 2020 and operates as an ONDC seller platform with full-stack omnichannel and hyperlocal commerce capability.

“Pai Platforms is a leading buyer platform on the ONDC network and Bitsila acquisition will further bolster its commerce play,” the source said.

Bitsila was launched in 2020, and is among top three seller platforms on ONDC. It supports marquee brands like McDonald’s, BigBasket on ONDC.

“The full-stack omnichannel and hyperlocal commerce capabilities of Bitsila have fuelled its growth, allowing it to manage over 600 million product categories across over 10,000 stores in more than 30 cities. The platform caters to various sectors, including grocery, food and beverages, fashion, beauty, personal care (BPC), and home decor,” the source said.

  • Published On Feb 9, 2024 at 12:34 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRetail App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Best Fast Dropshipping Service & Business India

Source link

Leave a Reply