GokwikAn Indian start -up that offers a suite of integrated e -commerce products has set a small round of $ 13 million, calling it a “growth” round, which reinforced its valuation to $ 450 million before money.
While the new funding round, led by RTP Global, is 63% smaller than the $ 35m series, announced in May 2022, has estimated the new 43% new Delhi starting than the latest $ 315m money. The new funding also included participation by existing boot investors, namely the Z47, the Peak XV Partners, and are thinking of investment, bringing the total concentration of funds to $ 68 million since its establishment in 2020.
But what has Gokwik do so attractive to investors? His offers help companies, large and small, set up online store and enter the area directly to the consumer (D2C).
D2C is expected to see a significant increase over time, as more brands ready to come online -target young consumers and the internet arrives in new homes. In India, the world’s second largest internet market after China and the most populous country, the D2C market is expected to reach $ 60 billion by 2027, from $ 12 billion in 2022, per A report (Pdf) from KPMG.
Currently, Gokwik has more than 12,000 traders paying from 2,500 to 3,000 a year ago, spread to India, Europe, the United Kingdom and the US, these traders offer SAAS products and allow them to create online stores fueled by Shopify, Magento Checkout, online payments and facilities to offer return options and cash-onatrive. It also helps brands trade through WhatsApp, a popular platform for businesses and consumers in markets such as India, sections of Europe and Brazil.
Gokwik counts brands such as the Indian giant Giant Lenskart, the Honasa Consumer personal care brand, the cosmetics company Lakmé, the London Pepe Jeans and London’s Xplosive Ape as customers.
Some of the products offered by Gokwik are also available through other players. For example, Razorpay and Cashfree payments offer payment solutions. Clevertap and Moengage offer CRM.
But Chirag Taneja, co -founder and chief executive, told TechCrunch that Gokwik’s product suite is integrated so that customers tend to buy at least two of them on average. “If you use our login product, it helps you to redefine better. Therefore, the Kwikengage product emerges there, which is a piece of WhatsApp Commerce.
This helped Gokwik increase its annual revenue by 20% annually, reaching over $ 30 million in annual repetitive revenue (ARR) this year, from $ 25 million last year. It helped trademarks to process a cumulative gross value of goods of $ 2 billion, with 55% of transactions including prepaid payments and 45% cash. Of all prepaid payments, 80% are through the Indian government’s Unified Payments interface.
With the new funding, Gokwik aims to expand its presence and customer base by introducing new markets and deepen its presence in areas where Whatsapp has a large consumer base, such as Germany, France and Latin American countries, including Brazil. The start also plans to enhance AI’s presence in its products. It already offers solutions like AI that is seeking abandoned trolleys. In addition, the start plans to allow Indian traders to sell their products to foreign customers with a global checkout solution that will incorporate the stripe and other international payment processing services.
Gokwik today has a 60 to 70 -month runway, with about $ 35 million to $ 37 million in the bank and aims to profitability over the next 18 months. It also seems to be made public within the next 3 to 5 years. In the meantime, the start attracts investor interest, although Taneja has confirmed to TechCrunch that he is currently not raising more funds.
The start has about 400 people based mainly on its offices in Gurugram and Bengaluru, with a handful of employees also based in the UK
