New Delhi-based Gokwik raises $5.5M in pre-Series A round led by Matrix Partners, others

New Delhi-based ecommerce enablement startup Gokwik today said it has raised Rs 40 crore (about $5.5 million) in a pre-Series A funding round led by Matrix Partners India. 

This round also saw the participation of global investor RTP Global and a clutch of angel investors and entrepreneurs such as Jitendra Gupta – Founder & CEO of Jupiter, Nitin Gupta – Co-founder of Uni, Utsav Somani – Partner at AngelList India, Amit Lakhotia – Founder at Park+, Pradeep Parameswaran – President, Mobility, the Asia Pacific at Uber, Manish Vij – Co-Founder of Smile Group, Asish Mohapatra – co-Founder & CEO of OfBusiness.

Arjun Vaidya – Ventures Lead, India at Verlinvest, Ramakant Sharma – Founder, LivSpace, Siddharth Puri – Co-Founder & CEO, Tyroo, Umang Kumar – co-Founder, CarDekho, Anupam Mittal – Founder & CEO, Shaadi.com and other leading industry figures also participated in the round.

According to the statement, the raised funds will be used to expand the market presence in the MENA and SEA regions, as well as to hire people for its technology, data, and product engineering teams.

Speaking on the development, Chirag Taneja, co-founder & CEO, GoKwik said, “E-commerce enablement players will play a pivotal role in fuelling the burgeoning Indian e-retail market which is projected to touch $120 billion in next 4-5 years."

"GoKwik is poised to redraft the traditional playbook by offering personalized solutions to improve overall conversion rates, help register higher GMV with increased RoI and provide protection against risks such as RTO to e-commerce and D2C brands, "he added.

For merchants, GoKwik offers a full-stack solution. Its products include one-click checkout, smooth checkouts, multiple payment methods, RTO protection during cash on delivery, and a single dashboard for business management. It has Magento, WooCommerce, Shopify, and OpenCart integrations.

Chirag Taneja (CEO), Vivek Bajpai (CTO), and Ankush Talwar (Chief Data Scientist) were among the founding members of GoKwik.

GoKwik services are used by 75+ brands, including digitally native brands, traditional players, and marketplaces, resulting in over a million monthly transactions, which are nearly doubling every month.

Many leading D2C brands, including boAt, Mamaearth, The Man Company, Heads Up For Tails, The Moms Co., OZiva, TCNS Clothing Co. (W, Aurelia, and Wishful), LimeRoad, ManMatters, Neemans, The Whole Truth, The Souled Store, EyeMyEye, and others, are already using GoKwik's solutions to empower their online businesses and provides a unique interface to their users.

Varun Alagh, Co-founder of MamaEarth, said, “Conversion rates across the funnel and RTO are major pain points for any e-commerce business in India, and GoKwik is focusing on solving exactly these problems.”

“Globally the e-commerce enablement and especially the one-click checkout space is seeing significant interest with multiple large companies emerging over the last 18 months. We believe that the same will be true in India as well and we’re thrilled to be partnering with GoKwik on this journey of democratizing the e-commerce shopping experience! “said Rajat Agarwal, Managing Director, Matrix India.

Also Read:

• Supply chain technology startup Geniemode raises $2.25M in seed round

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