Magicpin clocks 50% monthly growth on ONDC with over 30,000 daily orders

The company said on Friday that hyperlocal e-commerce company Magicpin has reported 50 percent month-on-month growth on the government-backed ONDC network as the platform’s daily demand mark crosses the 30,000 mark.

magicpin joined the Open Network for Digital Commerce about nine weeks ago at the end of March.

“The number of requests within the first 4 weeks of joining ONDC went from 100 to 10,000. By the 5th week, which was early last month, we saw a massive jump to 20,000 daily requests, and now it’s only 4 more weeks and we’ve breached the ONDC,” Magicpin CEO and Partner said. Founder Anshoo Sharma said in a statement that 30,000 requests per day is a significant milestone for the network, all in just 9 weeks of joining the network.

The Lightspeed Venture-backed e-commerce company has received orders from its buyer app and through buyer apps for multiple platforms like Paytm and PhonePe’s Pincode.

Magicpin is also building the Software as a Service (SaaS) platform for the ONDC initiative.

“Through this SaaS platform, Magicpin aims to offer its suite of technology, including tools for digital payments, customer engagement and loyalty programs to SMEs, thus enabling them to compete with the largest players in the market,” the company said.

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First published: June 16, 2023 | 1:51 p.m ist