Magicpin to invest Rs 100 cr to onboard new food delivery partners on ONDC

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Magicpin to invest Rs 100 cr to onboard new food delivery partners on ONDC - Business Standard

Quick Summary:

Hyperlocal e-commerce firm magicpin plans to invest Rs 100 crore over the next three months to onboard over 1 lakh new restaurants and cloud kitchens on the government-backed e-commerce platform ONDC, the company said on Sunday.magicpin will invest funds towards offering onboarding incentives like zero commission, zero onboarding fees, and free home delivery, among others, for customers by newly partnered restaurants.

"Our goal is to provide a risk-free entry to promote the participation of food merchants and restaurants in the digital economy by eliminating entry barriers such as high commissions and onboarding fees, and committing Rs 100 crore towards this initiative," magicpin CXO - Enterprise Brands Naman Mawandia said.magicpin is one of the leading seller apps on ONDC.

Its food tech vertical competes with food delivery apps like Swiggy and Zomato.