MyGate acquires group buying platform MyCommunity Genie for cash and stocks

The acquisition would allow MyGate to scale its community commerce segment

Security and community management start-up MyGate has acquired MyCommunity Genie, a Bengaluru-based social commerce platform, in a part-cash, part-equity deal.

MyCommunity Genie enables group buying and has over 150 sellers on its platform across Bengaluru. It allows residents in an area to come together and buy as a group to unlock higher savings for all, using an adaptive discounting model. For sellers, in addition to delivering high-value, single-destination orders, the platform also solves numerous operational pain points with regard to procurement, packaging, delivery and payments. Following the acquisition, all MyCommunity Genie systems will be integrated into MyGate.

The acquisition would allow MyGate