Published By: Mohammad Haris
Last Updated: February 09, 2024, 13:19 IST
ONDC. (Representative picture)
Paytm had utilized for a reputation change round three months in the past and acquired the approval from the Registrar of Companies on February 8
Paytm E-commerce has modified its identify to Pai Platforms and has acquired Bitsila, a vendor platform on ONDC, gaining share within the on-line retail enterprise. According to sources conscious of the event, the corporate had utilized for a reputation change round three months in the past and acquired 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,” based on a Registrar of Companies notification dated February 8. Elevation Capital is the most important shareholder in Paytm E-commerce. It can also be backed by Paytm Founder and CEO Vijay Shekhar Sharma, Softbank and eBay.
Sources mentioned that the corporate has now acquired Innobits Solutions Private Limited (Bitsila) which was launched in 2020 and operates as an ONDC vendor platform with full-stack omnichannel and hyperlocal commerce functionality. “Pai Platforms is a leading buyer platform on the ONDC network and Bitsila acquisition will further bolster its commerce play,” the supply mentioned.
Bitsila was launched in 2020, and is amongst prime three vendor platforms on ONDC. It helps marquee manufacturers 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 supply mentioned.
