Magicpin's Meteoric Growth: 1,000 Brands in a Year

Magicpin has onboarded over 1,000 multi-city and multinational consumer brands in a year, showing a 100% increase in new brands and over 75,000 local merchants. The company now has a significant presence on the ONDC platform, contributing to a 37% increase in its local merchant base.

Magicpin has onboarded more than 1,000 multi-city and multinational consumer brands in the past year, marking a significant year-on-year growth in its brand portfolio, the company revealed on Friday. Before this surge, it took Magicpin four years to get 2,000 brands on board.

Speaking on the milestone, Magicpin CEO and Co-Founder Anshoo Sharma said, ''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.'' The new additions span across categories like fashion, quick service retail, and fine dining.

Notable brands 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, and Lee Cooper. Magicpin, backed by Lightspeed Venture Capital, is now the biggest seller on the ONDC platform, accounting for over 50% of total monthly orders.

In the past year, Magicpin saw a 37% increase in its local merchant base, growing from 2 lakh to over 2.75 lakh. According to the company, 80% of these merchants became transactional within the first month of onboarding, with 95% being onboarded in under a minute.