GokwikThe Indian startup, which offers the package of integrated e-commerce products, raised a small round of $ 13 million, which is called the “growth” round, which increased its valuation to $ 450 million earlier earlier money.
While the recent funding round, run by RTP Global, is 63% smaller than the Berb series in the amount of USD 35 million, announced in May 2022, valued a modern startup from Nowy Delhi by 43% greater than the last pre -dot valuation of USD 315 million. Fresh funds also included the participation of existing startup investors, namely Z47, PEAK XV Partners and Think Investments, increasing complete funds to $ 68 million from the time of establishing in 2020.
But what made Gokwik so attractive to investors? His offers help firms, large and small, arrange an online store and enter the direct space to the consumer (D2C).
It is expected that the D2C space will increase over time, because more and more brands are directed for the purposes of young consumers on the Internet, and the web reaches recent homes. In India, the second largest web market in the world after China and the most populated country, the D2C market will reach $ 60 billion until 2027, in comparison with $ 12 billion in 2022. report (Pdf) by KPMG.
Currently, GOKWIK has over 12,000 paying sellers, in comparison with 2,500 to 3000 years ago, spreading over India, Europe, Great Britain and the USA that they use SAAS products that allow them to create online stores powered by Shopify options, Magento, Salesforce and Woocommerce and including online payments, online payments and facilities in online payments and money return range. It also helps brands to trade via WhatsApp, a popular platform for firms and consumers on markets equivalent to India, parts of Europe and Brazil.
Gokwik counts brands equivalent to the Eyewear Giant Lenskart Indian, Personal Hygiene brand Hondas Consumer, Cosmetics Company Lakmé, London Pepe and XPLOSIVE APE LIGHESSER as clients.
Some products offered by Gokwik are also available by other players. For example, Razorpay and Cashfree payments offer money solutions; Clevertap and Moengage offer CRM.
But Chirag Tanaua, co -founder and general director, told Techcrunch that the Package of Gokwik products is integrated so that customers buy on average at least two of them. “If you use our login product, it helps you better retarge. Hence our Kwikengage product, which is the WhatsApp trade work. Similarly, if you use our money product, an abandoned stroller, for abandoned prams, ultimately you use our piece of Kwikengage,” he said.
This helped GOKWiK increase annual revenues by 20% yr -on -year, achieving over USD 30 million of annual repetitive revenues (ARR), in comparison with USD 25 million last yr. He helped brands to process the cumulative value of gross products $ 2 billion, with 55% of transactions include pre -paid payments and 45% of money. Of all pre -paid payments, 80% takes place via the United Payments of the Indian Government.
Thanks to the recent funds, Gokwik strives to increase its presence and customer base by entering recent markets and deepening its presence in areas where WhatsApp has a large consumer base, equivalent to Germany, France and Latin American countries, including Brazil. Startup also plans to strengthen the presence of AI on its products. It already offers solutions equivalent to AI calling for abandoned prams. In addition, the startup plans to enable Indian buyers to sell their products to foreign customers with a global solution that may integrate Stripe and other international payment processing services.
Gokwik currently has from 60 to 70 months of the runway, from nearly 35 million to $ 37 million in the bank and goals to profitability in the next 18 months. It also looks public in the next 3 to five years. Meanwhile, the startup attracts the interest of investors, although Tanaua confirmed TechCrunch that he is currently not collecting more funds.
The startup has employment of about 400 people, mainly in their offices in Gurugram and Bengaluru, with a handful of employees also based in Great Britain