GoKwik raises $35 million

On Wednesday, e-commerce enablement company GoKwik

announced that it, in its Series B funding round has raised $35 million. This fundraising round was led by Think Investments and RTP Global. The company further informed that the raised capital will be utilized to work on tech solutions for large marketplaces.

Other than this, this round of funding also witnessed participation from existing investors Sequoia Capital India and Matrix Partners India. Prior to this, the e-commerce enablement platform, raised $15 million in its Series A round in November last year. The company in total raised more than $55  million in the past 12 months.

After the successful;l fundraising round, Chirag Taneja, Co-founder and CEO, GoKwik said, "We have been able to improve conversion rates upto 50 percent, reduce RTOs (return to origin) by up to 40 percent across the spectrum of merchants, across categories. As we expand our network of merchants, we will keep bringing in upgraded solutions to help them realise incremental GMV.”

GoKwik, further told that it has delivered GMV realizations in excess of $1 billion for its merchants. It claimed to have achieved over 3,500 percent in revenue and growing its team by 80 percent (on-quarter), fully remotely.