News Post

GoKwik acquires Return Prime to foray into global markets

Entrackr · 9d

E-commerce enabler GoKwik has acquired Return Prime, a global returns management app in the Shopify ecosystem. The acquisition marks GoKwik’s entry into the international markets of UK, Europe and the US. With this acquisition, GoKwik will offer a solution that not only improves the customer experience but also boosts the revenue of the merchants globally, while also helping them increase the customer lifetime value (CLTV). Founded in 2021 by Shashwat Swaroop, Bengaluru-based Return Prime provides a customer return platform for managing returns and converting them into revenue opportunities. Brands use the platform for automating return logistics, refunds, replacements, and more. Return Prime claims to house around 6,000 Shopify brands across 50 countries currently. With the acquisition, GoKwik aims to onboard over 10,000 new merchants over the next 6 to 12 months, using Return Prime’s technology and existing relationships to tap into new markets. This strategic push is expected to drive significant revenue growth, with GoKwik projecting a 3X increase in its overall business by the end of this year, and a 10X increase over the span of the next three years. GoKwik had previously acquired the WhatsApp commerce management platform Tellephant rebranding the new product to KwikEngage. Within a year of acquisition, KwikEngage contributes to 30% of GoKwik’s overall revenue and 20X growth in merchant base.