E-commerce enablement company GoKwik has brought $35 million up in a series B financing round led by San Francisco-based Think Investments and RTP Global.
The round additionally saw support from existing financial backers Sequoia Capital India and Matrix Partners India.
The new financing follows GoKwik’s $15 million series A round in November 2021, getting complete subsidizing the most recent a year to more than $55 million.
“Between the two rounds, GoKwik has shown incredible development by conveying GMV acknowledge in abundance of $1 billion for its traders, serving in excess of 80 million clients on its organization of brands, accomplishing more than 3500% in income, and developing its group by 80% Q-o-Q, completely from a distance,” the organization said in an explanation.
The organization intends to use the recently gotten assets to expand its internet business enablement stack and develop its organization of brands, further streamline their transformation results, and furthermore give redid arrangements.
It likewise plans to empower greater installment choices, increment the prepaid achievement rate and furthermore give supporting choices to assist with joining forces brands empower moderateness. To help its central goal, GoKwik will likewise use the assets to employ new abilities broadly across the tech, item, and information science groups, the organization said in an explanation.
“We are very pleased with our record-breaking exhibition in 2021, and we anticipate that this development should go on as internet business reception develops quickly and is supposed to turn into a $350 billion market in ten years. We have had the option to further develop transformation rates upto half, decrease return to beginning (RTOs) by upto 40% across the range of vendors, across categories.” said Chirag Taneja, fellow benefactor and CEO, GoKwik.
