GoKwik, an Indian startup best known for providing a comprehensive suite of e-commerce software products, has raised a new funding round of $13 million. Despite being modest in size compared to its previous $35 million Series B raised in May 2022, this latest investment significantly elevates the firm’s pre-money valuation to $450 million—representing a dramatic increase of 43% over the prior valuation of $315 million.
The funding round was led by RTP Global and saw participation from existing backers including Z47, Think Investments, and Peak XV Partners. With this latest raise, GoKwik’s total funding since its founding in 2020 stands at $68 million.
Investors have been attracted by GoKwik’s role in helping businesses set up and operate e-commerce storefronts, prioritizing direct-to-consumer (D2C) capabilities. These tools cater equally well to large enterprises and smaller-scale merchants, empowering them to quickly establish online storefronts, process secure payments, handle checkout seamlessly, and manage returns smoothly. GoKwik’s platform integrates effortlessly with widely-used commerce systems such as Shopify, Magento, WooCommerce, and Salesforce. In addition, it provides commerce solutions tailored for widely adopted communication platforms such as WhatsApp, popular among business communities in India, segments of Europe, and Brazil.
Currently supporting over 12,000 merchants—a rapid growth from approximately 3,000 just a year earlier—GoKwik’s customer base stretches across India, the United States, the United Kingdom, and Europe. Notable clients include Indian eyewear retailer Lenskart, beauty giant Lakmé, personal care leader Honasa Consumer, British apparel brand Pepe Jeans, and sportswear company Xplosive Ape.
While several companies provide individual offerings similar to GoKwik’s products—such as Razorpay and Cashfree Payments for checkout services, and customer engagement software firms like Clevertap and MoEngage—GoKwik differentiates with its highly integrated approach. According to co-founder and CEO Chirag Taneja, this strategy has resulted in most clients adopting multiple GoKwik tools. The interconnected nature of its offerings, such as streamlined retargeting and WhatsApp-driven engagement, has bolstered the firm’s growth and customer retention.
With annual recurring revenue (ARR) now surpassing $30 million—reflecting a 20% increase from the previous year’s $25 million—GoKwik has enabled merchants to generate a cumulative gross merchandise value (GMV) of roughly $2 billion. Of these transactions, 55% are prepaid, with 80% of these payments processed via India’s governmental Unified Payments Interface (UPI), while the remainder of payments continues to be dominated by cash-on-delivery options.
The latest infusion of funding will facilitate GoKwik’s ambitious international expansion strategy, specifically targeting European markets like Germany and France, as well as key Latin American countries such as Brazil. Areas with strong WhatsApp adoption are major focuses for the startup. Additionally, the company intends to enhance its product offerings with advanced AI solutions—one such example being automated AI-driven customer outreach for addressing abandoned shopping carts.
GoKwik is also preparing to enable Indian businesses to sell overseas through a global checkout solution offered in partnership with international payment processors such as Stripe. The company currently boasts a comfortable financial cushion, holding around $35 million to $37 million in cash reserves. Taneja anticipates achieving profitability within the next 18 months and has expressed interest in taking GoKwik public within three to five years.
With around 400 employees currently based primarily in Gurugram and Bengaluru, as well as a smaller UK-based team, GoKwik is actively positioning itself at the forefront of India’s rapidly expanding direct-to-consumer market—a sector expected to grow to $60 billion by 2027, up significantly from $12 billion in 2022.
