- Paytm E-commerce has been renamed to Pai Platforms and has received approval for the name change from the Registrar of Companies.
- Pai Platforms has acquired Bitsila, a seller platform on the Open Network for Digital Commerce (ONDC).
- Elevation Capital is the largest shareholder in Paytm E-commerce, along with support from Paytm Founder and CEO Vijay Shekhar Sharma, SoftBank, and eBay.
- The acquisition of Bitsila aims to strengthen Pai Platforms’ presence in the online retail business.
- Bitsila, launched in 2020, operates as an ONDC seller platform with full-stack omnichannel and hyperlocal commerce capabilities.
- Pai Platforms is a leading buyer platform on the ONDC network, and the acquisition of Bitsila is expected to enhance its commerce offerings.
- Bitsila is among the top three seller platforms on ONDC and supports renowned brands like McDonald’s and BigBasket.
- The platform manages over 600 million product categories across more than 10,000 stores in over 30 cities, catering to various sectors including grocery, food and beverages, fashion, beauty, personal care, and home decor.