New Delhi: Magicpin, the hyperlocal startup, has experienced a 100% growth in daily orders on the Open Network for Digital Commerce (ONDC) during the week ending May 7. Magicpin claims to have doubled its orders within a week to reach 20,000 daily orders via its own buyer app and other platforms like Paytm, Phonepe’s Pincode, and Meesho. Anshoo Sharma, CEO and co-founder of magicpin, stated that the company scaled from 100 to 10,000 orders a day within four weeks of joining ONDC and saw a significant surge in the fifth week to reach 20,000 daily orders, representing a 200-fold growth in ONDC’s daily orders through magicpin.
Magicpin is not only a seller app but is also making cataloguing, ordering, and order fulfilment services available on other buyer apps such as PayTM, Spice Money, Mystore, Craftsvilla, and Meesho. It is also building a software-as-a-service (SaaS) platform for the ONDC initiative to offer its proprietary technology stack, including tools for digital payments, customer engagement, and loyalty programmes to small and medium-sized enterprises (SMEs), helping them to compete with larger players in the market. The company aims to drive greater adoption of digital commerce among small businesses, contributing to the growth and development of the Indian economy.
Moreover, PhonePe has recently launched its Pincode initiative, leveraging magicpin’s last-mile connectivity on ONDC. Magicpin’s backend and logistics support related to ordering and delivery is helping startups reach hyperlocal markets across the country. Founded in 2015, magicpin offers a discovery and discount platform for offline and physical retail, including local stores. It currently has over 10 million users who get access to savings and discounts from more than 250,000 brands and retailer stores across various categories such as fashion, food, electronics, grocery, pharma, nightlife, and entertainment.
Magicpin’s partnership with ONDC has helped it to tap into a larger customer base, expanding its reach and revenue. The increase in daily orders through ONDC highlights the growing demand for digital commerce among consumers and the potential for SMEs to grow their businesses in this space. With the SaaS platform for ONDC, magicpin is set to empower SMEs to leverage digital commerce and technology to compete with larger players in the market. The company’s efforts will contribute to the growth of the Indian economy and help to bring small businesses into the digital age.
