Paytm E-commerce renamed as Pai Platforms, acquires ONDC seller firm Bitsila: Report

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 report said quoting sources aware of the development.

“… 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.

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

The company has acquired Innobits Solutions Private Limited (Bitsila), PTI reported citing sources. 

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

Bitsila was launched in 2020 and operates as an ONDC seller platform with full-stack omnichannel and hyperlocal commerce capability. It is among top three seller platforms and 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 told PTI.

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Published: 09 Feb 2024, 12:36 PM IST