India’s GoKwik raised a small $13M round for a hefty leap in valuation

New Delhi, India – GoKwik, a leading Indian startup at the forefront of integrated e-commerce solutions, has successfully concluded a $13 million growth funding round, catapulting its pre-money valuation to an impressive $450 million. This significant leap underscores investor confidence in the company’s robust offerings and its pivotal role in the rapidly expanding direct-to-consumer (D2C) market.

While the latest funding, spearheaded by RTP Global, is modest compared to its $35 million Series B round in May 2022, it has propelled the New Delhi-based firm’s valuation by a remarkable 43% from its previous $315 million pre-money valuation. The round also saw continued participation from existing investors, including Z47, Peak XV Partners, and Think Investments. Since its inception in 2020, GoKwik has now cumulatively raised $68 million, reinforcing its strong financial trajectory.

GoKwik’s appeal to investors stems from its comprehensive suite of products designed to empower businesses, irrespective of their size, to establish and thrive in the online D2C landscape. The company offers essential tools for setting up online stores, streamlining checkout processes, facilitating online payments, and managing returns and cash-on-delivery options. Furthermore, GoKwik enables commerce via WhatsApp, a critical platform in high-adoption markets such as India, parts of Europe, and Brazil.

The strategic focus on the D2C segment is particularly timely, given the projected boom in online retail. In India, the world’s second-largest internet market, the D2C market is forecasted to reach a staggering $60 billion by 2027, a substantial increase from $12 billion in 2022, according to a detailed report by KPMG. This growth is driven by increasing internet penetration and a burgeoning young consumer base eager for direct brand engagement.

GoKwik’s growth has been exponential, with its paying merchant base swelling from 2,500-3,000 a year ago to over 12,000 currently. These merchants span across India, Europe, the U.K., and the U.S., leveraging GoKwik’s SaaS products compatible with popular e-commerce platforms like Shopify, Magento, Salesforce, and WooCommerce. The company boasts an impressive client roster, including prominent brands such as Indian eyewear giant Lenskart, personal care brand Honasa Consumer, cosmetics company Lakmé, London’s Pepe Jeans, and Leicester’s Xplosive Ape.

While some of GoKwik’s individual product offerings, such as checkout solutions (e.g., Razorpay, Cashfree Payments) and CRM (e.g., CleverTap, MoEngage), have market competitors, GoKwik’s strength lies in its deeply integrated product suite. Chirag Taneja, co-founder and CEO of GoKwik, highlighted this advantage: “If you use our login product, it helps you do retargeting better. Hence, our KwikEngage product emerges there, which is a WhatsApp commerce piece. Similarly, if you use our checkout product, the abandoned cart, for abandoned carts, you end up using our KwikEngage piece.”

This integrated approach has yielded remarkable financial results, with GoKwik’s Annual Recurring Revenue (ARR) soaring by 20% in just three months, reaching over $30 million as of March 2025, up from $25 million in December 2024. The platform has successfully processed a cumulative gross merchandise value (GMV) of $2 billion. Notably, 55% of these transactions involved prepaid payments, with an impressive 80% of prepaid transactions facilitated through India’s Unified Payments Interface (UPI).

Looking ahead, GoKwik is set to leverage the fresh capital to broaden its market reach and customer base. Strategic plans include expanding into new international markets and strengthening its presence in regions with high WhatsApp adoption, such as Germany, France, and Latin American countries like Brazil. A key focus is to bolster the integration of Artificial Intelligence (AI) within its products, building upon existing solutions like AI calling for abandoned carts. The startup also aims to empower Indian merchants to engage with global customers through a comprehensive global checkout solution that will seamlessly integrate international payment processing services like Stripe.

With a healthy runway of 60 to 70 months and approximately $35 million to $37 million in the bank, GoKwik is targeting profitability within the next 18 months and eyes a public listing within the next 3 to 5 years. Despite attracting significant investor interest, GoKwik is currently not seeking additional funds, as confirmed by CEO Chirag Taneja. The company maintains a strong operational base with a headcount of around 400 professionals primarily located in its Gurugram and Bengaluru offices, complemented by a presence in the U.K.