Paytm Mall, an e-commerce platform owned by Paytm Ecommerce Private Ltd., announced on Monday that it will transfer its business from Noida to Bangalore and employ more than 300 new members in product and technical positions.
The company also appointed Abhishek Rajan as chief operating officer (COO). In the past four years, he has established and expanded Paytm’s Travel business, bringing considerable profit to the company.
Paytm Mall said in a statement that the move will help it leverage Bemgaluru’s rich talent pool in the consumer internet and entrepreneurial ecosystem.
“In the post-COVID era, we hope to bring trade to more customers and provide services to SMEs across the country. Our capital is strong, with a strong team and a large customer network, so that our O2O model will further penetrate India.” Vijay Shekhar Sharma, Founder and CEO of Paytm said.
Existing employees can flexibly transfer to Bangalore, or they can continue to hold various positions from their current positions.
In addition, Srinivas Mothey was promoted to Senior Vice President of Merchants Solutions at Paytm, where he will develop innovative retail solutions for businessmen in new positions.
After serving as COO, Rajan will set a vision for Mall and oversee operations across categories, products, technologies, supply chains, marketing, and finance.
He will specifically focus on enhancing the business customer experience and expanding the hyper-local merchant base, thereby making more Kirana stores part of the digital business journey
Rajan said: “We want to view Paytm’s e-commerce business as a Series A startup with $200 million in cash, where the key technologies and operational components required to operate an e-commerce business have been established.”
Focusing on profitability, Paytm Mall significantly reduced its quarterly cash consumption from US$17 million to US$2 million in the last fiscal year.
Paytm Mall recently partnered with BigBasket to provide groceries on its platform.
In February of this year, the e-commerce platform began to set foot in exports, with the aim of becoming India’s largest “Made in India” product trading company, with the goal of setting the total value of goods (GMV) to Rs 5 crore during the first two years of operation.