magicpin Reduces Platform Fee to Drive Growth and Partners with ONDC for Deliveries

Nov 04, 2024•about 1 year ago

Contract Type

partnership

GurugramLogistics

Description

Magicpin has reduced its platform fee by 29% and aims to onboard 100K restaurants with INR 100 Cr investment, marking a significant growth from its current base of 70K restaurants. The company recorded 500K food orders during the festive weekend and doubled its year-on-year numbers, with a focus on partnering with ONDC for deliveries to maintain a strategic position in the food delivery space.

Company Information

Company

magicpin

Location

Gurugram, Haryana, India

About

Magicpin is a hyperlocal delivery platform based in Gurugram, India, and it has recently launched Velocity, its logistics aggregation vertical.

Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months