GoKwik, an e-commerce facilitator, today announced that it has acquired Return Prime, a global returns management app in the Shopify ecosystem, for an undisclosed sum.
The acquisition marks GoKwik’s entry into the international markets of the UK, Europe and the US, consolidating its position as the leading e-commerce facilitator globally.
It also opens up new horizons for brands around the world to use GoKwik’s suite of solutions to drive their growth.
What does Return Prime do?
Founded in 2021 by Shashwat Swaroop, Bengaluru-based startup Return Prime offers a platform to help brands manage customer returns and convert them into revenue opportunities.
The platform automates processes such as returns, refunds and replacement logistics, making it easier for businesses to manage returns efficiently.
Integrating Return Prime capabilities
Shopify, which is one of the largest e-commerce platforms in the world, powers millions of merchants and has processed over $1 trillion in lifetime sales in over 170 countries, including key markets like the US, UK, and Australia.
With the latest acquisition, GoKwik will integrate Return Prime’s capabilities to expand its product offering and strengthen its position in the global e-commerce space, offering a more comprehensive set of services to online brands.
“At Return Prime, we have enabled ecommerce brands across the Shopify ecosystem to turn returns into revenue by simplifying and streamlining the returns process. With GoKwik’s extensive capabilities, we see an exciting opportunity to build on our solution, add deeper layers of innovation, and help brands grow their revenue even further,” said Shashwat Swaroop, Co-Founder, Return Prime.
Prime’s presence returns to the market
Return Prime claims to currently host around 6,000 Shopify brands across over 50 countries.
GoKwik aims to onboard over 10,000 new merchants in the next 6-12 months, leveraging Return Prime’s technology and existing relationships to access new markets.
This strategic push is expected to drive significant revenue growth. GoKwik is forecasting a three-fold increase in its overall business by the end of this year and a ten-fold increase over the next three years.
“Our DNA is steeped in the idea of building in India for the world. With the rise of D2C, world-class payment systems, evolving digital infrastructure, and more people shopping online than ever before, we have gained an incredible advantage. Operating in such a heterogeneous market where every day there is a unique perspective on how shoppers work and what they want, the learning curve we have experienced has prepared us to not only help brands in India but also scale that knowledge to build solutions globally,” said Chirag Taneja, Co-Founder and CEO, GoKwik.
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