Highlights
GoKwik Secures $13 Million in Funding
E-commerce enabler GoKwik has recently confirmed a funding round of $13 million in an extended Series B. This was backed by existing investors, with RTP Global taking the lead, while Peak XV Partners, Z47 (formerly known as Matrix Partners), and Think Investments also participated in the round.
Although GoKwik has not disclosed specific details, Startup Superb has scrutinised its regulatory filings to reveal information such as the round’s structure, shareholding dynamics, and current valuation.
Funding Breakdown and Valuation Insights
According to reports, GoKwik’s board has approved the issuance of 747 Series B1 CCPS at an issue price of Rs 14,96,226 each, aiming to raise Rs 111.76 crore, which equates to around $13 million, based on their filing with the Registrar of Companies (RoC).
RTP Global leads the financing with an investment of Rs 42.9 crore ($5 million), while Think Investments contributes Rs 25.7 crore ($3 million). Both Peak XV Partners and Z47 will each provide Rs 21.5 crore ($2.5 million).
Post-Funding Valuation
According to estimates from Startup Superb, GoKwik’s valuation is set at Rs 4,091 crore, translating to approximately $481 million after the recent allotment. This marks an increase of over 37% from its previous valuation of $350 million, which was established during the Series B round in May 2022 when it raised $35 million, co-led by Think Investments and RTP Global.
About GoKwik
Founded in 2020, GoKwik acts as an e-commerce enabler aiding D2C and social commerce brands. The platform is focused on enhancing conversion rates, reducing returns, and improving overall customer engagement. Its offerings include plug-and-play solutions such as KwikCheckout (featuring RTO protection), KwikEngage (supporting WhatsApp commerce), KwikPass (for one-click login), and Return Prime (for returns management).
To date, GoKwik has successfully raised around $72 million through various funding rounds, as per data from multiple startup intelligence sources. After the latest funding, Z47 now stands as the largest external shareholder with a 16.58% stake, followed closely by Peak XV Partners at 14.52%, RTP Global at 9.69%, and Think Investments at 3.76%. Co-founders Chirag Taneja and Vivek Bajpai together maintain a 35.76% ownership stake in the company.
Recent Acquisitions and Financial Performance
The New Delhi-based company expanded its reach last year by acquiring Return Prime, a global returns management application within the Shopify ecosystem, to enter international markets such as the UK, Europe, and the US.
In its fiscal year ending March 2024, GoKwik reported an impressive year-on-year operating revenue growth of 2.5X, reaching Rs 84.9 crore, compared to Rs 33.7 crore in the previous year. However, losses during the same period have widened by over 70%, amounting to Rs 85 crore.
