Page 2 - Unicommerce

Softbank-backed Unicommerce records 50% growth in revenue in FY23

Softbank-backed Saas platform Unicommerce has registered a 50 per cent growth in revenue driven by onboarding of new clients and international expansion, a senior company official said. Unicommerce CEO Kapil Makhija told PTI that the company has achieved an annual run rate of processing over 600 million transactions amounting to over USD 7 billion in annual gross merchandise value. He said that the company's growth has been consistent over the past three years and expects it to remain aligned to the expansion of the e-commerce industry in India. "Unicommerce's platform has demonstrated remarkable performance with around 50 per cent revenue growth in the financial year 2023. The number of enterprise clients has grown significantly, with a 45 per cent increase in FY'23 and a 68 per cent growth in FY'22," Makhija said. In its RoC (Registrar of Companies) filing for FY'22, the company reported a 47.5 per cent increase in operating revenue to Rs 59 crore in FY 22. Its profit after tax

SoftBank-backed Unicommerce expands ops in Middle East, Southeast Asia

The e-commerce tech firm has reported a 200 per cent year-over-year revenue growth in its international business during FY 2023

Telangana recorded 40% rise in online orders in FY22: Unicommerce

The data also revealed that consumers from Telangana are shopping across various categories

E-commerce platforms growing slower than expected as sale drops: Report

According to several industry insiders, the pandemic-related tailwinds that drove significant growth in online shopping are now waning

PhysicsWallah to hire 2,500 employees, partner with supply chain firm

Company hiring at a time when large Indian start-ups, especially in edtech, are laying off employees

Talks on free trade agreement with UK moving at faster pace: Goyal

Negotiations for the proposed free trade agreement between India and the UK is progressing at a faster pace, commerce and industry minister Piyush Goyal said on Tuesday. The agreement is aimed at boosting bilateral trade and investments between the two countries. India has signed a trade pact with the UAE in a "record" time and "now our talks with the UK is moving at a faster pace", Goyal said. In such pacts, two or more countries significantly reduce or eliminate customs duties on maximum number of goods traded between them. Besides, they ease norms for promoting trade in goods and investments. In January, India and the UK formally launched talks for a free trade agreement. They have set the deadline for concluding talks by Diwali. India is also negotiating similar pacts with Canada, European Union (EU) and Israel, he said, adding that several other nations have shown keen interest in negotiating trade agreements with India. The Gulf Cooperation Council (GCC), Eurasian Economic

SoftBank-backed Unicommerce to deploy tech in 8,000 warehouses by next year

Multiple new categories and business models have emerged in the last two years in the area of e-commerce

Unicommerce to increase manpower by 50%, hire 150 employees in FY23

E-commerce-focussed IT firm Unicommerce on Wednesday said it will increase manpower by 50 per cent by adding over 150 team members in 2022-23

E-commerce tech firm Unicommerce to spend $5 mn on expanding global ops

Firm says it has become a leader in India where it is processing 20% of e-commerce volumes. Now aims at setting itself up as a preferred choice of e-commerce firms and retail brands

Unicommerce managing over 1 mn daily transactions, $5 bn in GMV annually

Unicommerce aims to get over 2000 brands on board in the current financial year

Unicommerce to increase workforce by 60%, hire over 150 people in FY22

Unicommerce, an e-commerce focused SaaS (software as a service) platform, on Monday said it plans to increase its workforce by 60 per cent, onboarding over 150 people during the current fiscal year

E-commerce tech firm Unicommerce expands in Gulf, starts Saudi operations

E-commerce was worth $8.3 billion in 2017 in the Middle East and North Africa (MENA) region and is expected to more than triple by 2022 to reach $28.5 billion, says a study by Bain & Co and Google