GoKwik raises $35M in Series B round led by Think Investments
- ByStartupStory | May 11, 2022
E-commerce provider GoKwik announced on Wednesday that it has raised $ 35 million in a new funding round led by Think Investments and RTP Global.
According to GoKwik, this money will be used to enhance its offerings to online brands, deliver products to more direct consumer (D2C) brands, and extend the capabilities of technology, products, and data science.
Founded in October 2020, by Taneja, Vivek Bajpai, chief technology officer and Ankush Talwar, chief data scientist, GoKwik provides a platform for e-commerce businesses and D2C brands to help increase checkout conversions, manage efficiency, and reduce cash on delivery fraud. It also aims to provide users with a more personalized experience.
GoKwik also partners with three major payment aggregators to offer payment checkouts to smaller direct-to-consumer.
Today, GoKwik serves more than 250 brands and helps process over $ 1 billion in total commercial value (GMV) through its platform.
GoKwik said it has achieved more than $ 1 billion in GMV realization for dealers and serves more than 80 million customers across its brand network.
It claimed that sales exceeded 3,500% and expanded the team by 80% (quarterly). GoKwik is currently building an enablement stack to fuel the thriving e-commerce sector in the new D2C brand, social commerce platform, and marketplace.
The company has announced that it will use this money to recruit new talent in engineering, products and data science on a large scale.
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