1 min read.Updated: 16 Jul 2020, 06:45 AM ISTAgencies
Magicpin also announced that it will charge zero commission on sales of retailers that will onboard its 'magicstore' platform
The company rewards consumers in the form of cashbacks or points for visiting and spending on outlets that are listed on its platform
NEW DELHI :
Samsung Venture Investment Corporation has invested ₹52 crore in e-commerce start-up Magicpin. The Gurgaon-based company said the funds will be used mainly for business expansion and development of new products.
"The investment from Samsung Venture Investment Corporation will be used in our operations across cities, markets, categories, and for developing online products like magicstore," Magicpin CEO and co-founder Anshoo Sharma said in a statement.