Paytm e-commerce has changed its name to Pai Platforms and acquired Bitsila, a seller platform on ONDC, to gain share in the online retail business. According to people familiar with the matter, the company applied for a name change about three months ago and received approval from the Registrar of Companies on February 8.

“…the name of the company has been changed from Paytm E-Commerce Private Limited to Pai Platforms Private Limited with effect from the date of issue of this certificate…the company was initially registered as Paytm E-Commerce Private Limited,” Registrar of Companies notification dated for February 8th. Elevation Capital is the largest shareholder of Paytm e-commerce. It is also backed by Paytm founder and CEO Vijay Shekhar Sharma, SoftBank and eBay.

Sources said 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 omni-channel and hyper-local commerce capabilities. “Pai Platforms is the leading buyer platform on the ONDC network and the acquisition of Bitsila will further strengthen its business activities,” the source said.

Launched in 2020, Bitsila is one of ONDC’s top three seller platforms. It supports well-known brands like McDonald’s, BigBasket, etc. on ONDC. “Bitsila’s growth is fueled by its full-stack omni-channel and hyper-local commerce capabilities, enabling it to manage over 600 million product categories across 10,000+ stores in over 30 cities. The platform caters to various segments including groceries, food and beverages , fashion, beauty, personal care (BPC) and home décor,” the source said.

(This story has not been edited by News18 staff and is published from associated news agency – PTI)