GoKwik gets $5.5 million funding from Matrix India, others for overseas expansion

Mumbai: GoKwik, an ecommerce enablement platform, has raised $5.5 million in a funding round led by Matrix Partners India along with participation of RTP Global and several angels.

The capital will be used for expanding into the Middle East and North Africa, and Southeast Asia regions as well as hiring for its technology, data and product engineering teams.

Founded in 2020 by Chirag Taneja, Vivek Bajpai and Ankush Talwar, GoKwik uses AI/ML to solve problems like return-to-origin and better cash-on-delivery conversion rates for etailers as well as direct-to-consumer brands. Its checkout and UPI solutions help improve checkout conversion rates, ensuring higher gross merchandise value (GMV) realisations, increased profitability, reduced customer acquisition costs and increased delivery rates.


“E-commerce enablement players will play a pivotal role in fuelling the Indian e-retail market which is projected to touch $120 billion in next 4-5 years,” CEO Taneja said. Going forward, GoKwik will offer personalised solutions to its customers, he said.

GoKwik currently serves more than 75 brands, including boAt, Mamaearth, The Man Company, Heads Up For Tails, The Moms Co., OZiva, TCNS Clothing Co., LimeRoad, ManMatters, Neemans, The Whole Truth, The Souled Store and EyeMyEye.

India is witnessing a surge in the number of D2C brands as the share of non-marketplace, digital transactions for traditional as well as new-age brands increase rapidly. Some of this is driven by the pandemic but the trend is secular.

“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,” said Rajat Agarwal, managing director at Matrix India. We believe that the same will be true in India.”