Indian Economy News

E-commerce enablement platform GoKwik raises $35 mn for expansion

GoKwik, an e-commerce enablement platform, announced on Wednesday that it has secured US$ 35 million in a round headed by Think Investments and RTP Global. The funds will be used to develop technology for large marketplaces. The Series B round also saw participation from existing investors Sequoia Capital India and Matrix Partners India.

GoKwik is currently developing an enablement stack to support the growing e-commerce sector, which includes new-age D2C businesses, social commerce platforms, and marketplaces. The company is expanding its network of merchants and is bringing in upgraded solutions to help them realise incremental GMV.

GoKwik has delivered GMV realisations in excess of US$ 1 billion for its merchants, serving more than 80 million customers on its network of brands. The company has also claimed to have achieved over 3,500% in revenue and growing its team by 80% QoQ, fully remotely.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.