gokwik: GoKwik acquires Shopify’s Return Prime app and enters the global market

GoKwika E-commerce enabler has acquired Return Prime, a global returns management application in the Shopify ecosystem.Founded in 2021, Bengaluru-based Return Prime by Sashwat Swaroop offers a customer returns platform to manage returns and convert them into revenue opportunities. Brands use the platform to automate logistics for returns, refunds, replacements, and more.

The acquisition marks GoKwik’s entry into the international markets of the UK, Europe and the US. As online shopping continues to grow, particularly in the wake of the COVID-19 pandemic, the ability to efficiently manage returns has become a key differentiator for merchants. With this acquisition, GoKwik is positioned at the forefront of this trend, offering a solution that not only improves the customer experience, but also increases revenue for merchants globally, while helping them increase customer lifetime value (CLTV).

“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.

With millions of merchants, Shopify is one of the world’s largest ecommerce platforms, processing over $1 trillion in lifetime transactions. Gross value of the vehiclewith a strong presence in the US, UK, Australia and 170 countries. With the acquisition of Return Prime, GoKwik aims to add another layer of capability to its suite of solutions tailored for e-commerce brands.

Taneja added: “Over the past three years, we’ve expanded our product offering to address challenges at their core, all with the goal of generating more GMV for our merchants. The acquisition of Return Prime is a big step in that direction, opening up the entire Shopify ecosystem to our solutions. We’re excited about this new chapter and how we can now support ecommerce brands around the world, using everything we’ve learned along the way.”

Return Prime currently powers around 6,000 Shopify brands across 50+ countries. With the acquisition, GoKwik aims to onboard 10,000 new merchants over 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, with GoKwik forecasting a 3x increase in its overall business by the end of this year and a 10x increase over the next three years. “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. With our shared passion for building solutions that address the entire spectrum of ecommerce, we look forward to creating new avenues for ecommerce brands across countries to thrive,” said Shashwat Swaroop, Co-Founder, Return Prime.

GoKwik’s entry into international markets also comes at a time when the global e-commerce landscape is abuzz with new developments. Shopify Key Players like Klaviyo, which went public in the US last year, have proven that incredible businesses are being built globally for ever-growing e-commerce. GoKwik uses best-in-class data, technology, and AI/ML capabilities to solve merchants’ problems by predicting customer intent. By combining this with Return Prime’s returns management competency, GoKwik is expanding its solution suite to meet the rapidly evolving needs of merchants.