E-commerce enablement platform GoKwik has raised $13 million in a growth round led by RTP Global, with additional participation from Z47, Peak XV Partners, and Think Investments. The company plans to use the fresh capital to fuel international expansion and strengthen its AI-powered commerce infrastructure.
Key Highlights
- Funding Overview
- The latest round brings GoKwik’s total funding to $68 million.
- Previously, the company raised $35 million in its Series B round in May 2022, also led by Think Investments and RTP Global.
- Use of Funds
- Drive global expansion, especially into markets like the UK, where its WhatsApp commerce tool is gaining popularity.
- Accelerate research and development (R&D) in AI to improve its suite of e-commerce solutions.
- Product Offerings
- KwikCheckout: A checkout solution featuring return-to-origin (RTO) protection to reduce order cancellations and returns.
- KwikEngage: A WhatsApp commerce tool enabling brands to engage customers more effectively.
- KwikPass: A one-click login solution to improve user convenience and conversion.
- Return Prime: A returns management platform, recently acquired by GoKwik to strengthen its backend efficiency for merchants.
- Business Model
- GoKwik operates on a performance-linked revenue model, earning based on:
- Transactions processed
- Value delivered to partner brands
- This model makes it a results-driven partner for D2C and e-commerce businesses.
- GoKwik operates on a performance-linked revenue model, earning based on:
- Recent Acquisition
- In September 2024, GoKwik acquired Return Prime, a global returns management app within the Shopify ecosystem, expanding its global footprint and service capabilities.
- Leadership
- Chirag Taneja, Co-founder and CEO, is leading the company’s mission to simplify and scale digital commerce for brands across the globe.