SaaS-based e-com platform for retailers Bigcommerce expands to India
Texas- and Sydney-based Bigcommerce Pty Ltd, an e-commerce platform that enables businesses to launch online stores in a few simple steps, has expanded its operations to India.
"Our simple, streamlined user experience ensures merchants can get a website up and running quickly. In addition, our recent integration of CCAvenue ensures an easy, secure checkout for Indian shoppers," said Eddie Machaalani, co-founder and CEO, Bigcommerce.
Founded in 2009 by Machaalani and Mitchell Harper, Bigcommerce currently powers more than 50,000 online stores across 25 industry verticals, including fashion, electronics, health, gifts, jewellery and sports, across over 65 countries. The firm has partnered with Mumbai-based e-retail technology and marketing firm Iksula to sell the products, with plans starting at Rs 1,600 per month.
"The e-commerce market in India has grown by 34 per cent in the last seven years. It was about $600 million in 2011-12 and is expected to touch $9 billion by 2016, and $70 billion by 2020. Even after several years of significant growth, the market shows no signs of slowing down," added Machaalani. "Analysts suggest that the Indian e-commerce market is expected to grow at a CAGR of over 57 per cent between 2012 and 2016, the fastest within the Asia-Pacific region."
The company will compete with players like KartRocket and MartJack, among others. Delhi-based KartRocket, which offers a DIY platform for SMBs to come online and set up shop, has already raised its first round of funding from 5ideas Startup Superfuel and 500 Startups. MartJack, which provides digital commerce solutions to retailers across India and other emerging markets, recently partnered with the State Bank of India (SBI) to launch a horizontal e-commerce marketplace for its debit card holders.
(Edited by Joby Puthuparampil Johnson)