E-commerce enabler GoKwik has raised $13 million in an extended Series B round, backed by existing investors. The round was led by RTP Global, with continued participation from Peak XV Partners, Z47 (formerly Matrix Partners), and Think Investments.
While the company hasn’t publicly disclosed the finer details, regulatory filings reviewed by Entrackr provide clarity on the structure of the round. GoKwik’s board approved the issuance of 747 Series B1 compulsorily convertible preference shares (CCPS) at a price of ₹14,96,226 each, raising approximately ₹111.76 crore (~$13 million), according to its filings with the Registrar of Companies (RoC).
As per the filing, RTP Global is contributing ₹42.9 crore ($5 million), followed by Think Investments with ₹25.7 crore ($3 million). Peak XV Partners and Z47 are investing ₹21.5 crore ($2.5 million) each.
The latest funding values GoKwik at around ₹4,091 crore ($481 million) post-allotment—up more than 37% from its previous valuation of $350 million during its Series B round in May 2022, co-led by RTP Global and Think Investments.
Founded in 2020, GoKwik helps D2C and social commerce brands improve conversions and customer experience. Its suite includes solutions like KwikCheckout (with RTO protection), KwikEngage (for WhatsApp commerce), KwikPass (one-click login), and Return Prime, a returns management solution it acquired last year to strengthen its international presence in markets such as the UK, Europe, and the US.
According to startup intelligence platform TheKredible, GoKwik has raised around $72 million across multiple funding rounds to date.
Shareholding Update:
Post the latest allotment, Z47 has become the largest external stakeholder with a 16.58% stake. Peak XV Partners holds 14.52%, RTP Global 9.69%, and Think Investments 3.76%. Co-founders Chirag Taneja and Vivek Bajpai together continue to hold 35.76% of the company.
For the financial year ending March 2024, GoKwik reported a 2.5x year-on-year growth in operating revenue to ₹84.9 crore, up from ₹33.7 crore in the previous year. However, losses widened by over 70% to ₹85 crore during the same period.
