The Shopify ecosystem’s global returns management app, Return Prime, was acquired by e-commerce enabler GoKwik.
Proceeding with the acquisition, GoKwik enters the UK, Europe, and US international markets.
GoKwik will provide a solution through this acquisition that helps merchants increase their customer lifetime value (CLTV) and improves their overall customer experience while also increasing their global revenue.
Bengaluru-based Return Prime was founded in 2021 by Shashwat Swaroop and offers a platform for managing customer returns and turning them into income opportunities. Companies utilize the platform to automate a variety of tasks, including replacements, refunds, and return logistics.
Around 6,000 Shopify brands are reportedly housed by Return Prime in 50 different countries at the moment. Through the acquisition, GoKwik hopes to expand into new markets by utilizing Return Prime’s technology and existing connections to onboard over 10,000 new merchants over the course of the next six to twelve months.
GoKwik predicts that this strategic push will result in a 3X increase in overall business by the end of this year and a 10X increase over the next three years. This is expected to drive significant revenue growth.
GoKwik had previously purchased Tellephant, a WhatsApp commerce management platform, and renamed the new offering as KwikEngage. After only a year of acquisition, KwikEngage accounts for 20X growth in the merchant base and 30% of GoKwik’s total revenue.
