News Update

1M Merchants On Boarded By Shopmatic To Cross 5M Merchants Mark In Next 3 Years With $3B GMV

• BySheetal Sidhu     |    August 3, 2021

International ecommerce enabler, Shopmatic on Monday announced that it has successfully onboarded one million merchants on its platform. The landmark moment also coincides with the completion of Shopmatic’s sixth year of operations in India, the company stated. The company is now planning to cross the five million merchants mark over the next three years, with $3 billion GMV. Anurag Avula, Co-founder and CEO, Shopmatic, said, “It is an honour to reach the one million merchants mark as we complete almost six years in India. A microcosm of dynamics that are unmatched by any other geography across the globe, India has inspired us to constantly evolve. From helping merchants set up online ecommerce web stores to enable them to choose from four different ways to do ecommerce — social commerce, chat commerce, marketplace commerce, and selling through web stores; setting up complete solutions to digitise kirana stores and be the only company to allow merchants to onboard via a mobile app; to fostering a large ecosystem of partners who have evinced faith in us, it is indeed a very proud moment for us to acknowledge where we have gotten to.

“From setting up a customised web store, social store, chat presence, to integrating multiple payment gateway and logistics offerings, helping them drive digital campaigns and also providing them with insights on customers how to sell better, our offering is all-encompassing,” added Anurag. Riding on an upward trajectory with its tech-enabled solutions for the SME sector, Shopmatic has witnessed 80 percent growth in transactions and GMV over the last quarter and claims to be EBITDA positive, a year ahead of its projected plans. It also registered revenue of $5.5 million for H1 FY 2020.

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