GoKwik Acquires Global Returns Management Platform Return Prime This strategic acquisition marks GoKwik's entry into key regions like the UK, Europe, and the US.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
E-commerce enabler GoKwik has made a significant move into international markets with the acquisition of Return Prime, a global returns management platform in the Shopify ecosystem.
This strategic acquisition marks GoKwik's entry into key regions like the UK, Europe, and the US. It opens new avenues for brands worldwide to leverage GoKwik's suite of solutions to enhance their growth and improve customer experience.
Return Prime, founded in 2021 by Shashwat Swaroop in Bengaluru, provides a customer return platform for managing returns and converting them into revenue opportunities. The platform allows brands to automate refunds, replacements, and other return processes, transforming these into revenue opportunities.
With Return Prime's existing network of 6,000 Shopify brands across 50 countries, GoKwik plans to expand its reach further, targeting the onboarding of over 10,000 new merchants within the next 6 to 12 months.
"With D2C booming, payments systems top-notch, digital infrastructure evolving, and more people shopping online than ever before, we've gained an incredible advantage," said Chirag Taneja, Co-founder and CEO, GoKwik.
"Operating in such a heterogeneous market where every day there's a unique perspective on how shoppers function and what they want, the learning curve we've experienced has prepared us to not only help brands in India but also scale that knowledge for creating solutions globally," he added.
This acquisition is expected to drive considerable growth, with GoKwik projecting a 3X increase in its overall business by year-end and a 10X increase over the next three years.
Previously, GoKwik had acquired the WhatsApp commerce management platform Tellephant, rebranded as KwikEngage, which has contributed significantly to its revenue and merchant base growth.
GoKwik now serves over 10,000 brands, including well-known names like Mamaearth, Mosaic Wellness, Foxtale, Shoppers Stop, Libas, AdilQadri, Noise, and Fireboltt.
"With GoKwik's extensive capabilities, we see an exciting opportunity to evolve our solution, add deeper layers of innovation, and help brands further boost their revenue. With our shared passion for building solutions that address the full spectrum of eCommerce, we're looking forward to creating new avenues for eCommerce brands across countries to thrive," added Shashwat Swaroop, Co-founder, Return Prime.
