Magicpin Revenue, Valuation, Funding & Investors
Magicpin is valued at $165M as of August 2021, a 1.8x multiple on its last reported $93M revenue.
Last Magicpin valuation
$165M
Undisclosed stage · Aug 2021
Last Magicpin funding round
$60M
Series D · Nov 2021
Magicpin revenue
$93M
Undisclosed stage · Aug 2021
Key investors in Magicpin
Lightspeed Venture Partners
WaterBridge Ventures
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Moonstone Investments- The Bunting Family Private Fund
Lightspeed India Partners
- Srivatsan Rajan
About Magicpin
Magicpin is a hyperlocal discovery and commerce platform connecting users with merchants in India. Gurgaon-headquartered, it enables real-time promotions, loyalty programs, and content sharing for restaurants, retail outlets, and events. Merchants leverage geolocation tools to boost footfall and revenues via gamified offers. Users access personalized deals and social feeds for local buzz. Magicpin partners with 50,000 outlets in 20 cities including Delhi and Mumbai. Launched in 2015, it processes millions of transactions monthly.
Founded
2015
HQ
GurgaonWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Advertising, Commission
Revenue
$93M (Aug 2021)
Valuation
$165M (Aug 2021)
Magicpin Valuation
Magicpin is currently valued at $165M, based on its undisclosed-stage round in August 2021.
The $3M round was led by RA Holdings, with participation from Ritesh Agarwal, The Bunting Family Private Fund, Moonstone Capital, Lightspeed India Partners and Moonstone Investments.
Magicpin's valuation has grown 1.6x from $100M at its Series C in November 2018 to $165M in August 2021, across 3 priced rounds.
Magicpin valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2021 | Undisclosed stage | $165M | 1.8x |
| May 2020 | Series C | $118M | - |
| Nov 2018 | Series C | $100M | 1.1x |
Magicpin Revenue
Magicpin's latest recorded revenue is $93M, as of its undisclosed-stage round in August 2021. At a $165M valuation, that implies a 1.8x revenue multiple.
Revenue moved from $93M in November 2018 to $93M in August 2021, while the revenue multiple moved from 1.1x to 1.8x.
Magicpin revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2021 | $93M | $165M | 1.8x | Undisclosed stage |
| Nov 2018 | $93M | $100M | 1.1x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Magicpin Funding History
Magicpin has raised a total of $104M across 7 funding rounds.
Magicpin's first fundraising round was a $3M Series A in February 2016. The most recent completed round was a $60M Series D in November 2021.
Magicpin funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2021 | Series D | Zomato (lead); Lightspeed Venture Partners | $60M | - | Magicpin is a hyperlocal e-commerce platform connecting consumers with local retailers, brands, and services across food delivery, fashion, grocery, and more, operating as India's third-largest food delivery app and largest seller on ONDC. It raised $60 million in a Series D funding round in November 2021 from investors including Lightspeed Venture Partners, Zomato, Waterbridge, and Google, with Eternal Ltd noted as lead, to expand its hyperlocal retail market. The platform lists 5 million retailers, with 200,000 under contract, and drives business via a commission on actual sales, aligning incentives for merchants who pay only on transactions. By late 2022, Magicpin reported $3 billion GMV with 10 million active users, having grown 2.5 times since the 2021 fundraise, aiming for $12 billion GMV by end-2023. Users average 6 transactions monthly, with 70% of retailers local and 30% organized. Later financials show strong growth: revenue reached Rs 870 crore in FY24 (up 3x from Rs 297 crore in FY23), with adjusted EBITDA margin improving to -9.8% (Rs 86 crore loss excluding ESOP vs Rs 117 crore prior). Net loss fell 25%, cash burn dropped 30% YoY, supported by gen-AI efficiencies and market share gains in cities like Delhi and Bengaluru. The company eyes profitability and sustainable scaling in hyperlocal commerce. |
| Aug 2021 | Undisclosed stage | RA Holdings (lead); Ritesh Agarwal; The Bunting Family Private Fund; Moonstone Capital; Lightspeed India Partners; Moonstone Investments | $3M | $165M | Magicpin is an offline discovery and rewards platform operating in India. In August 2021, it raised approximately $3 million in a Series C - V funding round led by RA Holdings, the investment vehicle of OYO founder Ritesh Agarwal. Participating investors included Lightspeed India Partners, Moonstone Capital, Moonstone Investments, and The Bunting Family Private Fund. The round was completed at a post-money valuation of $165 million. This funding followed a prior $3.9 million investment by Lightspeed, Agarwal, The Bunting Family, and Moonstone in May 2020. The capital supported Magicpin's business growth and expansion. The Gurugram-based startup had previously raised funds in earlier rounds, including Series A and Series B led by Lightspeed Venture Partners. |
| Jul 2020 | Series D | Samsung Venture Investment (lead); WaterBridge Ventures; Lightspeed India Partners | $7M | - | Magicpin, a hyperlocal discovery platform, raised $7 million (Rs 52 crore) in its ongoing Series D round on July 15, 2020, from Samsung Venture Investment Corporation with participation from Lightspeed India Partners and WaterBridge Ventures. The funding supports business expansion across cities, markets, and categories, as well as development of new products like magicStore, an AI-powered list-based ordering system similar to phone or WhatsApp grocery orders. Magicpin enables delivery through retailer staff or its 3PL partners and rewards consumers with cashbacks or points for visiting and spending at listed outlets. The platform connects over 500K unique retailers in India, including small businesses and large brands such as Lifestyle, Westside, Shoppers Stop, Levi’s, Wrangler, Croma, McDonald's, CCD, KFC, FabIndia, Taco Bell, P&G, Tata Global, PepsiCo, Diageo, Godrej, and ITC. It scaled to $1 billion+ in GMV. Magicpin charges zero commission on sales via its Magicstore platform. |
| May 2020 | Series C | Lightspeed Venture Partners (lead); The Bunting Family Private Fund; Srivatsan Rajan; WaterBridge Ventures; Moonstone Investments | $4M | $118M | Magicpin is a Gurugram-based hyperlocal discovery, rewards, and commerce platform founded in 2015 by Anshoo Sharma and Brij Bhushan. It enables businesses to drive discovery through its platform, rewarding consumers with Magicpin Points for accessing products and experiences. The platform uses location intelligence for recommendations and provides merchants with consumer data and marketing tools to encourage repeat buying. It operates in multiple Indian cities including Delhi, Gurugram, Bengaluru, and Mumbai, and had expanded to grocery delivery and international markets like Indonesia by 2020. In May 2020, Magicpin raised Rs 29.3 crore ($3.9 million) in a Series C round led by Lightspeed Venture Partners, with participation from Moonstone Investments, WaterBridge Ventures, The Bunting Family Private Fund, and Srivatsan Rajan. Lightspeed invested through its US and India units, issuing 665 Series C1 preference shares at Rs 4,40,109 per share. VCCircle estimated the post-money valuation at Rs 1,107 crore ($147 million), significantly higher than the Rs 563 crore ($78 million) from the prior November 2018 round where Lightspeed led $20 million with WaterBridge. This marked Lightspeed's fourth investment in Magicpin, which had raised around $31 million total by then. Magicpin had over five million users by 2020 and focused on categories like food, beverage, fashion, and beauty. Prior investors included Vy Capital and Trifecta Capital. |
| Nov 2018 | Series C | Lightspeed India Partners (lead); The Bunting Family Private Fund; Srivatsan Rajan; WaterBridge Ventures; Trifecta Capital Advisors; Moonstone Investments | $20M | $100M | Magicpin is a hyperlocal discovery and online-to-offline (O2O) platform founded in 2015 by Anshoo Sharma and Brij Bhushan that enables merchants and consumers to discover, interact, and transact locally. The platform operates across multiple categories including restaurants, fashion, beauty, and grocery, and had grown 5x in 2018 with over 5 million users operational in 12 cities including Delhi, Gurugram, Noida, Bengaluru, Mumbai, Pune, Hyderabad, Chandigarh, Jaipur, Goa, Chennai, and Ahmedabad. In November 2018, the company raised $20 million in a Series C funding round led by Lightspeed Venture Partners US, with participation from Lightspeed India Partners and WaterBridge Ventures. Following this investment, Magicpin achieved a post-money valuation of $100 million. The company had grown substantially with approximately 2 million monthly transactions being driven on the platform and was reportedly the leader in offline marketing for retailers in India at that time. By the round date, the platform listed over 800,000 merchants including local kiranas and established brands such as McDonald's, FabIndia, and Hard Rock Cafe, and had raised approximately $31 million cumulatively across five funding rounds. |
| May 2017 | Series B | Lightspeed Venture Partners (lead); The Bunting Family Private Fund; Srivatsan Rajan; WaterBridge Ventures; Moonstone Investments; Vy Capital; Peak XV Partners; Knollwood Investment Advisory | $7M | - | - |
| Feb 2016 | Series A | Lightspeed Venture Partners (lead) | $3M | - | Magicpin is a Gurugram-based hyperlocal discovery platform that enables users to discover restaurants, events, and interact with local merchants through real-time promotions, loyalty programs, and content updates. Founded in August 2015 by Anshoo Sharma and Brij Bhushan, the company was incubated by Lightspeed and operates in cities like Delhi-NCR, Jaipur, and Bangalore, covering 30,000 merchants. In February 2016, Magicpin raised $3 million in a Series A round led by Lightspeed Venture Partners to expand operations and enhance technology. Lightspeed India, managing over $3 billion, has been a key backer, drawing insights from prior investments in similar spaces like LivingSocial and DianPing. At the time of the Series A, Magicpin claimed to drive $1 million in monthly gross merchandise value (GMV) to local merchants. The platform had over 1 million users who shared more than 5 million experiences, with average daily sessions exceeding 30 minutes. By the following year, it reported 7x growth to drive $40 million in annual business to its merchant base, though competitors like Nearbuy and Little faced challenges and were later acquired by Paytm. |
Who has invested in Magicpin?
15 investors have backed Magicpin across its funding rounds, including Lightspeed Venture Partners, WaterBridge Ventures, Moonstone Investments, The Bunting Family Private Fund, Lightspeed India Partners and Srivatsan Rajan.
Lead investors include Zomato, RA Holdings, Samsung Venture Investment, Lightspeed Venture Partners and Lightspeed India Partners.
Magicpin Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| The Bunting Family Private Fund |  Maryland, NY | 4 | Participant | May 2017 |
| New Delhi | 4 | Participant | May 2017 | |
| San Francisco, CA | 4 | Lead | Feb 2016 | |
| Moonstone Investments | Los Angeles, CA | 4 | Participant | May 2017 |
| Srivatsan Rajan | United States | 3 | Participant | May 2017 |
| New Delhi | 3 | Lead | Nov 2018 | |
| Ritesh Agarwal | India | 1 | Participant | Aug 2021 |
| Gurgaon | 1 | Lead | Nov 2021 | |
 London | 1 | Participant | Aug 2021 | |
| Gurgaon | 1 | Participant | Nov 2018 | |
| RA Holdings | Gurugram | 1 | Lead | Aug 2021 |
 Dubai | 1 | Participant | May 2017 | |
 Seoul | 1 | Lead | Jul 2020 | |
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Start Free TrialMagicpin Competitors
Magicpin competitors include listed companies like Adventure, Groupon and North Media, and private ones like Operator, Yassir and Songshu Pinpin.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $115M | - | |
 Italy | Publicly listed | $19M | $4M | $266M | - | |
| United States | Publicly listed | $498M | ($19M) | $765M | 1.7x | |
 Algiers | Private | - | - | $185M | - | |
 Denmark | Publicly listed | $200M | $22M | $134M | - | |
 Beijing | Private | - | - | $207M | - |
Magicpin Public Comps
Magicpin is still privately-owned, but its public comps include Kamakura Shinsho, PickMe, Syuppin, Dida, Yatra Online, Martı, HomeToGo, Port Inc., Multitude and 1stdibs.com.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $54M | $9M | 2.6x | 2.4x | 15.5x | 13.6x | |||
| $26M | - | 6.3x | 5.2x | - | - | |||
| $334M | $17M | 0.6x | 0.6x | 11.5x | - | |||
| $75M | $18M | - | - | - | - | |||
| $99M | $9M | 1.7x | 1.6x | 20.1x | 19.4x | |||
| $39M | ($23M) | 6.9x | 3.8x | (11.8x) | 115.5x | |||
| $294M | ($83M) | 0.5x | 0.3x | (1.7x) | 4.2x | |||
| $187M | $34M | 1.2x | 1.1x | 6.8x | 6.0x | |||
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Common questions about Magicpin
| When was Magicpin founded? | Magicpin was founded in 2015. |
| Where is Magicpin headquartered? | Magicpin is headquartered in Gurgaon, India. |
| Is Magicpin publicly listed? | No, Magicpin is a private, VC-backed company. |
| What is Magicpin's valuation? | Magicpin was last valued at $165M in its undisclosed-stage round in August 2021. |
| How much funding has Magicpin raised? | Magicpin has raised $104M across 7 funding rounds. |
| What was Magicpin's last funding round? | Magicpin's last funding round was a $60M Series D in November 2021, led by Zomato. |
| Who are Magicpin's investors? | Magicpin's investors include The Bunting Family Private Fund, WaterBridge Ventures, Lightspeed Venture Partners, Moonstone Investments, Srivatsan Rajan, Lightspeed India Partners, Ritesh Agarwal, Zomato, Moonstone Capital, Trifecta Capital Advisors and 5 others. |
| What is Magicpin's revenue? | Magicpin's latest recorded revenue is $93M (August 2021). |
| What is Magicpin's revenue multiple? | Magicpin's latest valuation implies a 1.8x revenue multiple ($165M valuation on $93M of revenue). |
| Which companies are comparable to Magicpin? | Companies comparable to Magicpin include Operator, Adventure, Groupon, Yassir, North Media and Songshu Pinpin. |
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