Hope to clock revenues of Rs 1000 cr this year: QwikCilver

QwikCilver (quick-silver), the Bengaluru-based company that specialises in delivering gifts, has seen a mercurial rise over the last 6 years. With year-on-year (YoY) growth at 150 percent, the company is in advanced talks with e-tailers like Amazon as it looks to raise more funds reports CNBC-TV18s Poornima Murali and Archana Shukla.The average Indian’s penchant for gifts -- it's quite literally the gift that keeps on giving. and Bangalore-based QwikCilver is living proof. Founded in 2008, this online and offline gifting company provides backend tech-support for the gift card business of several retailers including Shoppers Stop, Lifestyle, Westside and Croma. Its track record is impressive; having clocked 150 percent growth in its 6-year long existence and the company is hungry for more.TP Pratap, Chief Marketing Officer, QwikCilver said, “This financial year, we are looking at Rs 1000 crores that QwikCilver will be clocking. We have been clocking a 150% growth YoY and that is continuing to grow. The base has been set and as we grow, there are newer brands coming on to this platform and that is enabling the overall growth rate to be sustained and retained”While QwikCilver began with an investment of about Rs 50 lakh, it has seen two rounds of undisclosed fund raising from Accel Partners and Helion Venture Partners. Now, it is in talks with e-retailers like Amazon India and Flipkart to raise a further Rs 50-75 crore over the next 5-6 months.He further added, “'We work with a hundred brands. It's a confidence booster for us when our customers are willing to invest into us for a long haul. That is the ultimate success for a company of our size and stature that customers are willing to bat with us so to speak.”The 100 brands QwikCilver currently works with span 20 consumer categories. So the fundraising exercise, if successful, will help the company add to this already impressive portfolio. This expansion is crucial to QwikCilver. After all, it wants a bigger piece of the Indian gifting market -- a market that is projected to grow from the current Rs 3,000 crore, to Rs 9,000 crore by 2017.