Paytm acqui-hires Shopsity

Paytm, India’s largest mobile payments and commerce platform has acquired the team at Shopsity, a Delhi based startup that offered O2O solutions to small retail stores. This move is in line with Paytm vision to create strong seller focused services to its offline merchants.

Shopsity is focused on small unorganized retailers, providing them with tools to attract and retain customers. Paytm is actively working to strengthen seller services for the 800,000 strong offline sellers on the Paytm ecosystem. Launched in March 2015, Shopsity is an O2O mobile platform, where you get to see what’s selling in stores nearby. During July last year, the platform had raised an undisclosed amount of funding from Shopclues and Droom, and Netprice.

In July, Paytm started accepting payments at retail chains like Spencer’s Retail, Heritage Fresh, More, WH Smith, Kendriya Bhandar, V2 Retail, Value Plus and Pai International (Pai Mobile). This followed its tie-up with quick-service-restaurants such as KFC, Pizza Hut, Cafe Coffee Day, Costa Coffee, Barista, Vaango, among others. Paytm claims to have 125 million wallets.

In September, Paytm had acqui-hired EduKart, an e-learning marketplace for an undisclosed amount. In January this year, Paytm acquired Shifu, a consumer behavior prediction platform for an undisclosed amount. A month before that, the company acquired Gurgaon-based services marketplace Near.in for $2 million.