Exclusive: Swiggy To Shut Professional Services Marketplace Pyng

Foodtech major Swiggy has decided to shut Pyng, its marketplace for professional services, by the end of this month. The move comes nearly six months after the company launched the Pyng app. 

In an email sent to the sellers on the platform, Pyng cited unit economics challenges behind the decision to close the platform by the end of October.

“… while user engagement and feedback were strong, the business model wasn’t viable in its current form. The balance between customer acquisition costs and long-term customer retention didn’t hold up sustainably, which led us to take this decision,” it said.

Inc42 has reviewed the aforementioned email. Queries sent to Swiggy remained unanswered till the time of publishing this story.

The Pyng team told the sellers via the email that the platform would remain active till October 31 to provide them time to wrap up ongoing conversations. 

Swiggy forayed into the professional services marketplace segment in January and started onboarding professionals on the platform, while the app was made operational for users in April. 

The app connected users with professional services providers such as health and wellness experts, financial advisors, astrologers, travel and education experts, among others. It saw more than 10,000 downloads on the Google Playstore. 

The launch of Pyng was part of Swiggy’s product launch spree this year, under which it launched 10-minute food delivery app SNACC, travel and concierge service provider Crew, the 99 Store category on the Swiggy app for price conscious buyers, and affordable food delivery service app Toing.

However, the company has also shut down a number of its services over the past year. In May, Swiggy suspended its hyperlocal delivery services platform Swiggy Genie. In July, the company shut its SaaS platform Minis, which enabled D2C brands to establish a mini storefront on the Swiggy platform. 

The developments come at a time when Swiggy is looking to shore up its revenue and control its ballooning losses amid rising competition in the quick commerce segment, where it competes with Eternal-owned Blinkit and Zepto. The entry of new players like Amazon and Flipkart Minutes has further increased the competitive intensity.

To increase its market share in the segment, Swiggy’s quick commerce arm Instamart has been investing heavily in its dark store expansion. While this resulted in Swiggy’s operating revenue surging 54% to INR 4,961 Cr in Q1 FY26 from INR 3,222 Cr in the year-ago period, its net loss also zoomed 96% YoY to INR 1,197 Cr during the quarter.

Last month, Swiggy announced that it will hive off Instamart into a separate step-down subsidiary.

Shares of Swiggy ended today’s trading session 1.54% higher at INR 449.4 apiece on the BSE.