Paytm E-commerce has been rebranded as Pai Platforms, marking a change in corporate identity. This move comes alongside the acquisition of Bitsila, a prominent merchant platform operating within the Open Network for Digital Commerce (ONDC). This strategic shift underscores Pi Platforms' ambition to assert its presence and gain a larger foothold in the fiercely competitive environment of online retail.
According to internal PTI sources familiar with the development, the company started the rebranding process about three months ago. Their efforts culminated in formal approval from the Registrar of Companies on February 8th, marking the dawn of the Pai platform. A Registrar of Companies notification dated February 8 confirmed the change: “From the date of this certificate, the company name has been changed from Paytm E-Commerce Private Limited to Pai Platforms Private Limited.”
Elevation Capital, a prominent stakeholder in Paytm E-commerce, has become the largest shareholder of the newly named Pai platform.
Sources further revealed that Pai Platforms has made a strategic acquisition of Innobits Solutions Private Limited, which operates under the name Bitsila. Founded in 2020, Bitsila has quickly emerged as a strong player within the ONDC ecosystem, boasting a comprehensive suite of omnichannel and hyperlocal commerce solutions.
“Pai Platforms' acquisition of Bitsila underscores the company's commitment to strengthening its commerce capabilities within the ONDC network,” one knowledgeable source asserted. Founded in 2020, Bitsila has risen to become one of ONDC's top three seller platforms, facilitating transactions for respected brands such as McDonald's and BigBasket.
This acquisition leverages Bitsila's robust omnichannel and hyperlocal commerce infrastructure and aligns seamlessly with Pai Platforms' comprehensive vision. With an incredible reach of over 600 million product categories across 10,000 stores across 30 cities, Bitsila serves diverse verticals such as Grocery, Food & Beverage, Fashion, Beauty, Personal Care (BPC), Home Decor, etc. and has firmly established its position. It is a pivotal player in the digital commerce environment.
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