Ecommerce enablement platform GoKwik is in discussions to raise up to $20-25 million in an internal funding round, with RTP Global leading the charge and Z47 set to participate, people aware of the development tell Moneycontrol.
The round, still being stitched together, is aimed at securing additional capital from existing investors. Sources mentioned that while there is a possibility of an external investor joining, it is not yet confirmed, and the final structure of the round is still being worked out, which could increase the overall fundraise number.
GoKwik declined to comment, while RTP has yet to respond to requests for further details.
This comes few months after the firm acquired Shopify-based returns management app Return Prime to expand its reach into international markets, including UK, Europe, and the US, leveraging Return Prime’s technology and network of over 6,000 Shopify brands to onboard new merchants.
The firm had previously acquired Tellephant, a WhatsAppCommerce Management platform, and rebranded it as KwikEngage.
Founded in 2020 by Chirag Taneja (Co-Founder and Chief Executive Officer), Vivek Bajpai (Co-Founder and Chief Technology Officer), and Ankush Talwar (Co-Founder and Chief Data Scientist), GoKwik offers a full-stack solutions for eCommerce brands including one-click checkout, RTO management tools, and growth strategies through conversational commerce, among others.
It claims to work with over 4,000 brands, including Lenskart, Neemans, Man Matters, Purplle, and Shoppers Stop, supporting over 50 cross-platform integrations on Shopify, WooCommerce, Magento, Salesforce, WordPress, and more.
Last year, the firm launched Kwik COD, a Shopify app designed to help brands manage the influx of COD orders effectively, thereby reducing RTO and boosting their bottom line. The app gained traction, particularly after e-commerce enabler Shopify discontinued its Advanced COD (A-COD) app in August 2024.
The latest fundraise comes almost three years after GoKwik closed a $35 million Series B round, led by Think Investments and RTP Global, with participation from Peak XV Partners and Z47. Prior to that, it had raised a $15 million Series A round in November 2021.
The firm, which competes with platforms like Unicommerce, Shiprocket, Shopflo and even payment gateways like Razorpay, Cashfree which assist brands with similar services, reported sales of $20 million for FY24. The company expects to double its revenue in FY25 from Rs 110 crore previously, and hit profitability by FY26.
Heating up the space, Shiprocket is raising around $26 million (Rs 219 crore) in an extension of its ongoing Series E round while Unicommerce hit the stock market last year. While the former had rapidly expanded beyond logistics into an end-to-end management of e-commerce operations, the latter strengthened its logistic play with acquisition of Shipway recently.
India’s e-commerce industry, valued at $ 125 billion (Rs 10,82,875 crore) in FY24, is projected to grow to $345 billion (Rs 29,88,735 crore) by FY30, reflecting a compound annual growth rate (CAGR) of 15%.
This unlocks a massive opportunity for e-Commerce SaaS or enablers across pre checkout, checkout and post checkout, offering brands to leverage advance tools, target customers (personalisation), optimise costs and flows, tracking, rewards and so on.
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