Originals · Startup · Startups & Fintech
GoKwik turns Adjusted EBITDA positive and pays out Rs 7.57 Cr to employees, while a new ESOP rule bars them from nine rivals
The D2C commerce enablement platform is letting 69 staff sell part of their vested options, but an amended plan lets it cancel options held by anyone who joins Razorpay, CRED, Pine Labs and six others.
GoKwik, which sells checkout, shipping, return to origin reduction, WhatsApp commerce and marketing tools to direct to consumer brands, said it turned Adjusted EBITDA positive in October 2026, based on unaudited management accounts. It announced the milestone alongside an employee stock option liquidity programme, reported by ETHRWorld on 2 November. The company said its revenue nearly doubled year on year. Adjusted EBITDA is a non GAAP measure that leaves out non cash expenses.
Under the programme, 69 of 133 eligible employees are set to receive a combined Rs 7.57 Cr, with a median payout of Rs 11.25 lakh, through a secondary sale in which existing and new investors buy shares from staff. GoKwik raises no fresh capital in the deal, which it expects to close in November 2026 subject to approvals. The company says its earliest option holders will see about nine times their original grant value on average, and staff with four or more years of options about 4.5 times. Co founder and CEO Chirag Taneja said employees should not have to "wait indefinitely for a liquidity event".
A week later Inc42 reported a less flattering detail from the same plan. It said GoKwik amended its ESOP Plan 2021 with a non compete clause naming Razorpay, Shiprocket, CRED, Cashfree Payments, BiteSpeed, Snapmint, WebEngage, Shopflo and Pine Labs. If the board decides an employee or former employee has joined, advised or invested in one of them, it can cancel both unvested options and vested options not yet exercised. Inc42 said the rule covers past grants too and runs until two years after a person leaves, citing a shareholder resolution from the September 2025 AGM. GoKwik did not answer Inc42's questions.
GoKwik describes itself as founded in 2020 and based in Bengaluru, serving more than 20,000 D2C brands. Inc42 lists Z47 Partners, Peak XV Partners, RTP Global and Think Investments among its backers.
What to watch: whether the secondary sale closes on time, whether GoKwik keeps or softens the competitor clause, and whether audited accounts confirm the October profit claim.
