"New Name, New Vision: Paytm E-commerce Rebrands as Pai Platforms"
In a strategic move waving a significant shift in its corporate identity, Paytm E-commerce has rebranded itself as Pai Platforms. This transformation comes in the wake of reports surrounding the potential acquisition of Bitsila, a leading seller platform operating within the Open Network for Digital Commerce (ONDC). However, Paytm has refuted these acquisition claims, asserting, "We firmly deny the news of Paytm's proposed acquisition of Bitsila," in a statement to media.
According to insider sources familiar with the development, the rebranding process commenced approximately three months ago. After meticulous efforts, the company received official approval from the Registrar of Companies on February 8th, officially accompanying in the era of Pai Platforms. The Registrar of Companies issued a notification on February 8th, confirming the name change, stating, "The name of the company has been changed from Paytm E-Commerce Private Limited to Pai Platforms Private Limited with effect from the date of this certificate."
Elevation Capital, a key stakeholder in Paytm E-commerce, retains its position as the largest shareholder in the newly named Pai Platforms. Moreover, the company boasts strong support from industry titans such as Paytm Founder and CEO Vijay Shekhar Sharma, Softbank, and eBay, cementing its stature within the market.