[Funding alert] GoKwik raises $35M in Series B round led by Think Investments

Ecommerce enablement platform GoKwik on Wednesday said it raised $35 million in a Series B funding round led by Think Investments, along with existing investors Sequoia Capital India, Matrix Partners India, and RTP Global.

The New Delhi-headquartered startup will use the capital to work on tech solutions for large marketplaces, and omnichannel players and continue expansion in the D2C market.

With this fund, GoKwik will broaden its ecommerce enablement stack and grow its network of brands, further optimise their conversion results, and provide customised solutions.

The company will also hire more talent, with a focus on engineering and data sciences (AI and ML capabilities), across India by the end of 2022.

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In September 2021, the startup had raised Rs 40 crore ($5.5 million) in a pre-Series A round. A few months later, in November, it raised Rs 112 crore in a Series A round from its existing investors.

Founded by Chirag Taneja, Vivek Bajpai, and Ankush Talwar, GoKwik combines technology, data, and UI/UX expertise to drive the overall profitability of any business on ecommerce platforms, including new-age D2C brands and social commerce platforms.

In its commitment to building an ecommerce sanctuary, the startup plans to enable more payment options, increase the prepaid success rate, and ensure financing alternatives to help partner brands provide affordability to the “Bharat” market. 

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 The 15+ months old GoKwik has helped over 250 brands to solve issues, including conversion rates, reducing RTO or improving GMV, and improving customer experience and retention potential.

Some of GoKwik's clients include marketplaces like Snapdeal, Limeroad, and Lenskart, and D2C brands like boAt, Mamaearth, Crocs, and The Man Company.