The software that powers 25% of India’s e-commerce transactions, processes a billion orders each year, and in 2025 alone fulfilled 20 million quick-commerce orders: Unicommerce sits at the core of India’s digital retail ecosystem.

It is one of the few SaaS companies from India to go public, doing so after nearly a decade of steady growth without fresh primary capital until its IPO in 2024.

In this episode of The Neon Show, we sit down with Kapil Makhija, CEO of Unicommerce, the company quietly running India's $60B E-retail market (set to hit $2 Trillion in the next two decades).

The conversation goes beyond the company’s journey to unpack how perceptions of Indian SaaS customers are changing: from the old belief that they “don’t pay” to a more nuanced reality where they value communication, support expectations, and long-term relationships define success.

We also look ahead to the future of SaaS in India: from the impact of AI, to the challenges of scaling from zero to $100M, to the balance between pricing and value, and identifying the sectors most ready for building large SaaS companies.

This episode is for anyone curious about the story of SaaS in India, from how it is being built, scaled & the opportunities ahead.

00:00 – Trailer
01:15 – India makes you product-ready & pressure-tested
03:45 – GTM: India doesn’t reward size, it rewards focus
05:00 – Joining Unicommerce the week Snapdeal acquired it
10:10 – Digital-first brands vs. traditional brands
12:36 – Why Excel and manual ops were the real competition?
14:25 – The acquisition of Shipway
17:02 – How will the company achieve 1000 Cr Revenue?
19:40 – How the decision to go public was made
23:40 – Success in SaaS isn’t sign-ups, it’s retention
29:31 – The myth that Indian customers don’t pay
33:30 – Do Indian customers want Enterprise support but SMB pricing?
36:40 – The impact of AI on SaaS
39:10 – Founder vs. CEO: Is there a difference?
47:29 – White spaces in e-commerce waiting to be built
50:35 – Q-commerce vs. E-commerce: where are brands betting?
52:07 – How SaaS companies decide if they’re IPO-ready?
55:10 – Can India build billion-dollar SaaS companies at home?
58:15 – How long does the 0 → $100M journey really take?
01:01:15 – How to build a ₹100 Cr SaaS company today?
01:09:53 – Are pricing advantages in SaaS sustainable?
01:12:22 – How much do brands actually spend on tech?
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This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.

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7 Myths About Selling B2B SaaS In India Explained By Public Listed Company Unicommerce | ft. Kapil Makhija

The Neon Show