Magicpin, a hyperlocal e-commerce firm, announced on Friday that it has achieved a remarkable milestone on the government-supported ONDC network. The company has recorded a 50% month-on-month growth and successfully crossed the daily order mark of 30,000 on the platform.
Magicpin became a part of the Open Network for Digital Commerce (ONDC) approximately nine weeks ago, towards the end of March.
Anshoo Sharma, CEO and Co-Founder of Magicpin, said, “Magicpin within the first four weeks of joining ONDC had scaled from 100 to 10,000 orders. By the fifth week, which was early last month we saw a massive leap to 20,000 daily orders, and now just another 4 weeks on and we have breached the 30,000 orders a day milestone on the network, all that in just 9 weeks of joining the network,”
The e-commerce firm, backed by Lightspeed Venture, received orders through various channels including its own buyer app as well as buyer apps from multiple platforms such as Paytm and PhonePe’s Pincode.
Additionally, the company is actively developing a Software-as-a-Service (SaaS) platform specifically for the ONDC initiative.
“With this SaaS platform, magicpin aims to offer its proprietary technology stack, including tools for digital payments, customer engagement and loyalty programs to SMEs, thus enabling them to compete with larger players in the market,” the company said.
