Magicpin's 100 percent Growth on ONDC Platform, From 100 to 20,000 Daily Orders in Just 5 Weeks
SMEs benefit as Magicpin doubles daily orders through ONDC and buyer apps
12 May 2023
Magicpin, a hyperlocal startup, reported a 100% growth in daily orders on the ONDC platform for the week ending May 7.
The company scaled from 100 to 20,000 daily orders within five weeks of joining ONDC, with the help of its buyer app and other platforms.
Magicpin is building a SaaS platform to offer its proprietary technology stack to SMEs, driving greater adoption of digital commerce among small businesses.
Magicpin, a hyperlocal startup, has reported a 100% growth in daily orders on the Open Network for Digital Commerce (ONDC) for the week ending May 7. The company witnessed a 200-fold growth in daily orders to reach 20,000 per day within five weeks of joining the government-supported ONDC. Magicpin doubled its daily orders through its buyer app and other platforms like Paytm, Phonepe's Pincode, and Meesho. The startup joined ONDC in March to help small and medium-sized local retailers in the food and beverage category access more customers.
The company CEO and co-founder, Anshoo Sharma, said that they were thrilled to take the network to another level by enabling customers to shop at their favorite local businesses or other retailers on ONDC. Within the first four weeks of joining ONDC, Magicpin scaled from 100 to 10,000 orders per day. In the fifth week, they saw a massive leap to 20,000 daily orders. This milestone reflects the collaboration between Magicpin and ONDC teams' relentless efforts to provide the best local discovery and rewards platform for the customers.
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Magicpin is also building a Software-as-a-Service (SaaS) platform for the ONDC initiative. With this platform, the company aims to offer its proprietary technology stack, including tools for digital payments, customer engagement, and loyalty programs to SMEs. This move will enable SMEs to compete with larger players in the market, driving greater adoption of digital commerce among small businesses.
The company made its services visible on various other buyer apps like Paytm, Spice Money, Mystore, Craftsvilla, and Meesho. PhonePe recently announced its Pincode initiative, which will leverage Magicpin's last-mile connectivity on ONDC. Magicpin's CEO noted that the milestone achieved showed how collaboration and collective efforts could help provide the best services to customers.
In conclusion, Magicpin's 100% growth in daily orders on the ONDC platform is remarkable, and its 200-fold growth within five weeks is a testament to the value it provides to SMEs. The company's proprietary technology stack will help small businesses compete with larger players and drive the adoption of digital commerce. Magicpin's collaboration with other buyer apps like PhonePe will undoubtedly help it achieve its goal of providing the best local discovery and rewards platform for customers.