Paytm Mall has appointed Amit Sinha as its chief operating officer and he will be responsible for overall operations of Paytm Mall and expanding the team. His responsibilities will also include ensuring customers have access to the products across categories, delivery, and partnering with logistics networks.
Sinha served in several key business roles in Paytm and implement critical business, HR and financial processes for the company.
Note that the firm has partnered with Flipkart’s eKart for logistics support. The company also has already tied up with Delhivery, GoJavas, Blue Dart and many other domestic and national logistics providers
In February, Paytm demerged its e-commerce business into a separate entity. The wallet business was moved to the payments bank company in December.The newly created e-commerce portal also has Paytm Bazaar, an unstructured shopping channel on Paytm, that provides shoppers a range of domestic and international goods. Meanwhile, the company said it is currently targeting to launch its new app in the coming month.
The Economic Times points out that the marketplace has 1.4 lakh sellers with over 68-million products across categories like fashion, electronics, consumer durables and home furnishings among others. The e-commerce website will be fashioned along the lines of Alibaba’s TMall with a focus on structured categories and brand-authorised stores.
This new entity started off with the same shareholding as the parent company of Paytm, One97 Communications Limited and raised $200 million from SAIF Partners and Alibaba Group Holding. Meanwhile, the payments business of Paytm raised $1.4 billion from SoftBank Group Corp. This will be one biggest investment from the Japanese Internet and Telecom major in any Indian startup and also the largest round raised by Paytm. The company plans to invest the fresh funding over the next three to five years in expanding the user base and towards Paytm Payments Bank