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gokwik: Gokwik raises $35 million to hire over 200 people this year | Bangalore News

Bengaluru: E-commerce enabler GoKwik has raised $35m in a Series B funding round led by Think Investments and RTP Global. The round also saw participation from existing investors Sequoia Capital India and Matrix Partners India.
The company said it will use the newly raised funds to expand its e-commerce enablement stack and grow its brand network, further optimize their conversion results and provide customized solutions. It also plans to hire over 200 people across India by the end of 2022 and said it is “committed to a remote approach to team building”.
GoKwik was founded at the end of 2020 and tries to solve the problems faced by companies in the field of e-commerce using technologies such as artificial intelligence and machine learning. It helps other businesses reduce fraud, manage customer acquisition costs, and increase checkout conversions, among other functions.
Shashin Shah, Managing Partner at Think Investments, said GoKwik has grown very quickly in a short time and now works with several well-known D2C brands and online marketplaces. “Low conversion rate is a major issue for most e-commerce merchants, and GoKwik’s product offerings address precisely that issue. We are delighted to partner with the GoKwik team and strongly believe in their vision to empower merchants to provide the best shopping experience.
Ashish Agrawal, MD at Sequoia India, said the Indian e-commerce market is evolving differently from the West with significant growth of merchants beyond major e-commerce platforms and dominance of payment methods like UPI and payment on delivery.
“The Sequoia Capital India team is delighted to strengthen the partnership with GoKwik to build the enablement layer to power this,” he added.


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