Magicpin clocked a 50% monthly growth on ONDC with over 30,000 daily orders
- IBEF
- June 19, 2023
Magicpin, a hyperlocal e-commerce firm, recorded a 50% month-on-month growth on the government-supported Open Network for Digital Commerce (ONDC), crossing the platform's 30,000 daily order mark. Magicpin joined ONDC in March-end of 2023.
Within four weeks of joining ONDC, Magicpin had scaled from 100 to 10,000 orders, Mr. Anshoo Sharma, Chief Executive Officer (CEO) and Co-founder of Magicpin, said in a statement. He added that a massive leap was seen by the fifth week to 20,000 daily orders, and now, it has breached to 30,000 orders a day milestone on the network, in just nine weeks.
It has been informed that Magicpin is building a Software-as-a-Service (SaaS) platform for the ONDC initiative, as in the case of the Lightspeed Venture-backed e-commerce firm, which received orders from its buyer app. With the help of this SaaS platform, Magicpin hopes to provide small and micro enterprises (SMEs) with access to its proprietary technological stack, which includes tools for digital payments, customer engagement, and loyalty programmes. This will allow SMEs to compete with more established market players.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
