Magicpin onboards 1,000 brands, 75,000 merchants in a year, sees 100% growth

New Delhi: Hyperlocal e-commerce firm magicpin has onboarded over 1,000 mutli-city and multinational consumer brands in a year, registering a year-on-year growth in onboarding prominent firms, the company said on Friday.

While it took magicpin four years to bring around 2,000 brands on board, it added over 1,000 of them over the past year alone.

"It has been a phenomenal last 12 months for us... there has been an exponential 100 per cent increase for us in terms of brands and merchants, thereby welcoming over 1000 new brands and over 75,000 local merchants to our platform," magicpin CEO and Co-Founder Anshoo Sharma said in a statement.

The company has added new brands across fashion, quick service retail and fine dine category during the 12-month period ending June 2024.

The new brands magicpin onboarded include Burger King, Domino's, TacoBell, McDonald's, Faasos, Subway, Behrouz Biryani, Meghna Biryani, Truffles, Chaayos, US Polo Assn, Louis Philippe, Puma, Levi's, Van Heusen, Lee Cooper, etc.

Lightspeed Venture Capital firm backed magicpin is the biggest seller on government backed e-commerce platform ONDC, accounting for over 50 per cent of the total order per month.

The company in the last one year recorded a 37 per cent jump in its local merchant base to over 2.75 lakh from around 2 lakh a year ago, the company said.

As per the statement, "80 per cent of these merchants became transactional within the first month of onboarding and witnessed substantial growth in the same month and 95 per cent of them were onboarded in less than a minute.