Decoding GoKwik’s extended Series B round, current valuation and captable

E-commerce enabler GoKwik recently announced $13 million funding in an extended Series B round from its existing investors, with RTP Global leading and Peak XV Partners, Z47 (formerly Matrix Partners), and Think Investments also joining the round.

While the company did not disclose the details, Entrackr has gone through its regulatory filing to decode the details such as round breakup, shareholding, and current valuation.

The GoKwik’s board passed a resolution to issue 747 Series B1 CCPS at an issue price of Rs 14,96,226 apiece to raise Rs 111.76 crore or around $13 million, as per its filing with the Registrar of Companies (RoC).

RTP Global will lead the round with Rs 42.9 crore ($5 million) followed by Think Investments who will infuse Rs 25.7 crore ($3 million). Peak XV Partners and Z47 both will contribute Rs 21.5 crore ($2.5 million) each.

According to Entrackr’s estimates, GoKwik will be valued at Rs 4,091 crore or around $481 million post-allotment which grew over 37% compared to $350 million in previous round, when it raised $35 million in Series B round in May 2022 co-led by Think Investments and RTP Global.

Founded in 2020, GoKwik is an e-commerce enabler that helps D2C and social commerce brands boost conversions, reduce returns, and enhance customer engagement. It offers plug-and-play solutions like KwikCheckout (with RTO protection), KwikEngage (WhatsApp commerce), KwikPass (one-click login), and Return Prime (returns management).

GoKwik has raised approximately $72 million to date across multiple funding rounds, according to startup data intelligence platform TheKredible. 

Following the latest allotment, Z47 has emerged as the largest external shareholder with a 16.58% stake, followed by Peak XV Partners at 14.52%, RTP Global at 9.69%, and Think Investments at 3.76%. Meanwhile, co-founders Chirag Taneja and Vivek Bajpai collectively retain a 35.76% ownership in the company.

The New Delhi-based company acquired Return Prime last year, a global returns management app within the Shopify ecosystem, to expand into international markets including the UK, Europe, and the US.

For the fiscal year ending March 2024, GoKwik reported 2.5X year-on-year growth in its operating revenue to Rs 84.9 crore as compared to Rs 33.7 crore in the previous fiscal. However, its losses widened over 70% to Rs 85 crore during the same period.