India Stack Native vs Legacy Wrapper: E-commerce's Real Divide
E-commerce in India splits into two structural types: businesses built on India Stack primitives (UPI, Aadhaar, open APIs) versus legacy players retrofitting these tools. Native businesses have 3-5x lower customer acquisition costs. The gap widens as payment rails mature.
Get 1 unfair insight every week from India's startup ecosystem.
Read by serious founders and investors. No fluff.
Continue reading with Blog Pass
This piece is part of the Aletheia archive. This week’s drops are free — unlock every sector thesis, deal-flow breakdown and disclosure note with a Blog Pass.
Amit Tyagi
Founder, AletheiaAI & GP, Fitoor Capital
Veteran of India's startup ecosystem. Writing about fundraising, investor psychology, and what it takes to build fundable startups in India.
Run a fundability check
India's only MRE-backed platform for founders and investors. Analyse your deck, find investors, and validate your raise strategy.
Don’t miss the next one
One insight every week. No fluff.
One contrarian insight. Every week. No generic startup advice.
Join founders and investors building with better information.