On Wednesday, GoKwik raised the fund of $35 million, led by Think Investments and RTP Global. This fund will be used to work on tech solutions to enhance the market. The Series B round will participate from investors already in existing Sequoia Capital India and Matrix Partners India. In November 2021, the new funding followed Gokwik’s $15 million Series A round, which brought more than $ 55 million in funding within 12 months.

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“We have been able to improve conversion rates up to 50 per cent, reduce RTOs (return to origin) by up to 40 per cent across the spectrum of merchants, across categories,” said Chirag Taneja, Co-founder and CEO, MobiKwik. “As we expand our network of merchants, we will keep bringing in upgraded solutions to help them realise incremental GMV,” he added.

The company has delivered GMV realizations above $1 billion for its merchants, serving more than 80 million customers on its network of brands. And it has also claimed to have achieved over 3,500 per cent in revenue and growing its team by 80 per cent quarterly.