New Delhi, June 24 -- E-commerce enabler GoKwik has secured $13 million (Rs 111.8 crore) in a growth-stage funding round, marking its first capital raise since its Series B round three years ago.
The round was led by existing investor RTP Global, with continued participation from Peak XV Partners and Z47 (formerly Matrix Partners India). Notably, no new investors joined the cap table.
Founded in 2020 by Chirag Taneja, Vivek Bajpai, and Ankush Talwar, GoKwik has to date raised a total of $68 million.
The company plans to use the fresh capital to accelerate international expansion and enhance R&D efforts across its AI-first commerce stack.
GoKwik helps e-commerce brands reduce checkout friction, boost conversions, and personalize customer experiences at scale. It claims to have enabled over $2 billion in gross merchandise value (GMV) and maintains a 100% year-on-year growth rate. Its clientele includes Mamaearth, Man Matters, Plix, Libas, and Shoppers Stop.
In FY24, the company doubled its topline to Rs 85 crore, with total income crossing Rs 109 crore. However, its net loss widened 70% to Rs 85 crore, as per data from VCCEdge. FY25 financials are yet to be released.
In 2024, the company appointed Sharad Gupta, a former Swiggy executive, as senior director of products. It also entered international markets with the acquisition of Return Prime, a Shopify-based global returns management app, marking its entry into the UK, Europe, and US markets.
Published by HT Digital Content Services with permission from VC Circle.