GoKwik raises $15 mn in Series A funding round led by Sequoia Capital

GoKwik, an e-commerce enablement company, has raised $15 million in a Series A round led by Sequoia Capital India. The round also saw participation from existing investors Matrix Partners India and RTP Global.

Within 250 days of its launch, GoKwik has on-boarded more than 100 brands which cumulatively have an annualised gross merchandise value(GMV) of $250 million. The company has so far been able to increase conversion rates of its customer brands by more than 20 per cent, resulting in an increased GMV of Rs 25 crore per month.

The company plans to use the funds to work with large marketplaces, scale up its product and technology teams and launch new products.

GoKwik focusses predominantly on solving e-commerce issues like boosting conversion rates across the e-commerce funnel for its customers. Its clients include Mamaearth, Good Glamm Group (Myglamm), LimeRoad, EyeMyEye, boAt, ManMatters, OZiva, The Souled Store, Noise, and VMart.