GoKwik, an e-commerce enablement company, has raised $15 million in a Series A round led by Sequoia Capital India. Also, the round saw participation from existing investors Matrix Partners India and RTP Global.
Within 250 days of its launch, GoKwik has onboarded more than 100 brands that cumulatively have an annualized gross merchandise value(GMV) of $250 million. The company has 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 significant marketplaces, scale up its product and technology teams and launch new products.
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GoKwik focuses 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.