Paytm Renamed to Pai Platforms
The company has acquired Bitsila to change its name to Pai Platforms, further utilising Bitsila's robust omnichannel and hyperlocal commerce infrastructure.
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Paytm ecommerce has changed its name to Pai Platforms and has acquired Bitsila, a seller platform on ONDC, gaining share in the online retail business. The company had applied for a name change around three months ago and got the approval from the Registrar of Companies on February 8.
“ The name of the company has been changed from Paytm Ecommerce Private Limited to Pai Platforms Private Limited with effect from the date of this certificate… The company was originally incorporated with the name Paytm E-Commerce Private Limited,” according to a Registrar of Companies notification dated February 8.
Elevation Capital is the largest shareholder in Paytm Ecommerce. It is also backed by Paytm Founder and CEO Vijay Shekhar Sharma, Softbank and eBay. The company has now acquired Innobits Solutions Private Limited (Bitsila), which was launched in 2020 and operates as an ONDC seller platform with full-stack omnichannel and hyperlocal commerce capability.
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The acquisition aligns seamlessly with Pai Platforms’ overarching vision, leveraging Bitsila’s robust omnichannel and hyperlocal commerce infrastructure. With a staggering reach encompassing over 600 million product categories across 10,000 stores spanning 30 cities, Bitsila caters to a diverse array of sectors including grocery, food and beverages, fashion, beauty, personal care (BPC), and home decor, solidifying its status as a pivotal player within the digital commerce landscape.
