To maintain and organize our finance such as monthly household bills, managing household budgets can be achieved by cashback discounts and offers. Generally, cashback is a reward program where you can earn a percentage of the money while spending on shopping.
According to LendingTree Survey, the most popular redemption option ( 71% ) among the 60% of cardholders who redeemed rewards in the previous year was cashback. Based on the survey, cashback websites and apps provide a way for customers to earn money back on purchases.
In a country like India, People love saving money and look for great deals and discounts on online shopping of any brand that offers cashback to them. Swati Bhargava and Rohan Bhargava used this concept to launch CashKaro, one of India’s Largest cashback platforms. Come, let’s know everything about Caskaro and how it works.
About CashKaro
CashKaro is a well-recognized Indian online coupon and cashback website founded on April 11, 2013, where you can look for excellent deals. It offers discounts and cashback on a wide range of products including electronics, apparel, home furnishings, beauty products, mobile recharge, and many more.
Its headquarters is located in Gurgaon, Haryana. It works with online retailers and ecommerce platforms to offer coupon and cashback promotions to a larger customer base and sell more products.
The best deal is created by combining merchant discounts, special promo codes, and additional cashback which has great discounts across stores and provides the best deals to its customer.
Founders – Swati Bhargava, Rohan Bhargava
CEO – Swati Bhargava
COVID – 19 CashKaro discovered a new revenue stream
During the initial months of the pandemic, ecommerce sales had a drop drastically. They have expanded into online content services like OTT, Gaming, Audiobooks, and e-learning. There was a sudden decrease in sales during the lockdown due to movement restrictions and ecommerce companies’ inability to make deliveries.
It hastened the shift in consumer preferences from offline to online, and many ecommerce platforms like Amazon and Flipkart offered a wide range of entertainment content on their OTT platforms particularly when deliveries were stopped during lockdowns, D2C brands showcased social media influencer-led content on their web stores and improved user experience to attract customers to return.
CashKaro, which relies on a rise in online commerce to boost coupon sales, had been striving to maintain a consistent revenue flow as ecommerce suffered a temporary setback during the initial lockdowns.
This motivated the founders of the Gurugram-based startup to change direction to provide deals on online consumption-based options such as OTT, gaming, audiobooks, and e-learning.
OTT and education technology had a spectacular rise and the education platform was the winner in the pandemic period. Working from home and consumption of these platforms has increased the great opportunity for this startup.
They also partnered with education platforms🧑🏫 such as
- BYJU’S
- Udemy
- Testbook
- Eduonix
- upGrad
- Coursera
OTT Platforms 🎬such as
- Amazon Prime
- Disney+Hotstar
- Zee5
- ALT Balaji
- Eros Now
Gaming Websites🎮 such as
- RummyPassion
- Lottoland
- Gamezy
- RummyCircle
- CircleRummy
They earn commissions on all transactions it moves to its OTT, education, and gaming partners, which is passed on to its customers in form of cashback.
How does CashKaro work?
Over 5 million people have used it to save money. It is a Ratan Tata-backed company that offers unrivaled cashback and curates incredible deals for users.
While other companies in the industry may offer coupons or cashback on their own, it is the only source that provides all three benefits at the same time. It offers price comparisons between leading retailers, cashback, and exclusive promo coupons for over 1,500 stores.
After creating an account in it, you can purchase on their website🌐 or android 📲and iOS applications to earn rewards.
Their app has an excellent user interface and experience, with features such as on-screen discount coupons that you can easily copy by touching☝️ the screen. This makes online shopping easy on various e-commerce platforms such as Flipkart, Amazon, and Myntra.
It is simple and easy to get the best deals on their application.
- To begin, you must create a free CashKaro account to access their discounts🔖, deals, and discount codes.
- Then, using the search bar, you can select your preferred business and it directs you to a business-specific store website on their website.
- The best discounts, promo codes, and reward deals will be displayed in an orange🟠 “activate” button.
- If you like the offer, click the orange icon which takes you to a new page. That page displays all available coupons for the business you’ve chosen.
- Simply enter the discount code into the company’s payment page and enjoy shopping as well.
CashKaro Tagline
The Tagline of CashKaro – “You want more, You get more.”
Journey of CashKaro
| 2013: The Beginning | 1) Built strategic tie-ups with retailers like Amazon India, Myntra & Jabong 2) Raised Rs 5 crores from London-based Angel Investors 3) Drove sales worth Rs 25 crore to partner sites within 6 months |
| 2014: Driving Forward | 1) On-boarded over 500 e-commerce retailers 2) Grew to a 50-person team across Delhi & Chennai |
| 2015: Growing Stronger | 1) Raised Rs 25 crores as Series A funding from Kalaari Capital Partnered with Alibaba Wholesale becoming India’s 1st site to offer Cashback on orders 2) Established new headquarters in sector 44, Gurgaon |
| 2016: Dominating Cashback | 1) Got funded by Mr. Ratan Tata 2) On-boarded over 1500 e-commerce partners 3) Achieved the GMV target of Rs 1000 crores |
| 2017: Expanding Horizons | 1) Established a new office in Chennai of over 80 tech wizards 2) Credited over Rs 80 crores as cashback to users 3) Innovated product solutions by partnering with leading banks & offline retailers |
| 2019: Growing Above & Beyond | 1) Moved to a new & bigger office space 2) Paid over Rs 100 crores as cashback to users 3) Crossed 4 million + users mark 4) Launched EarnKaro – India’s first social deal commerce platform |
| 2020: Raised $10 Million | 1) Serie ‘B’ round led by Korea Investment Partners 2) Launched CashKaro stores Network & expanded into assisted e-commerce |
| 2021: Rs 100 Crore Club | 1) Crossed Rs 100 crores in Revenue for FY21 2) Crossed 18 million + users mark 3) Doubled the company strength from 150 to 350+ employees |
Startup Story of Cashkaro
1) Swati in her childhood days wanted to join the Indian Foreign Services but she wanted to be a businesswoman to pursue a career in business and marketing.
2) She planned to attend oxford in her youth days but later on, she changed her mind when she learned that the London School of Economics offered a better scholarship.
3) After graduating from the London School of Economics, Rohan worked for reputable companies such as Washington Square and Aladdin Capital.
4) In 2011, he founded his own company in the United Kingdom called Pouring Pounds, which specialized in discounts and websites.
5) Both Swati and Rohan established CashKaro which quickly became popular. In 2011, the Bhargavas shifted their focus from their secure and comfortable job as bankers in the UK to Pouring Pounds, a coupon-based company they ran in the UK.
6) Swati was inspired to start this business after witnessing the huge success of similar payback companies in the United States and the United Kingdom.
7) The Cashback industry is a multibillion-dollar industry in both the United States and China. Swati and Rohan were inspired to begin Pouring Pounds and try something new.
8) While Swati had no plans to return to India while operating in London, their success encouraged them to shift their focus back to India.
9) The achievements of the Pouring Pounds gave them the confidence to expand their operation in India in April 2013. Their Startup initially began with a small workforce in India and co-founders in London.
10) They emailed a few friends in need of money in raising $2,50,000. They received responses from 20 people by the end of the next day. Both raised $750 in 2 days when the investors looked into the immense scope of India’s e-commerce business.
11) Swati convinced over 500 e-commerce portals, including Amazon, Myntra, and Jabong, to join their venture, which helped in their incredible growth.
12) With over Rs 10 crore in payments, CashKaro rapidly became one of India’s leading coupon websites.
13) Since its beginnings, the company has actively promoted and performed over 5,500 transactions per day, saving consumers more than Rs 200 crores.
CashKaro Investors
Kalaari Capital is the leading venture capital firm in India
CashKaro India is the first VC-funded cashback site, having received $3.4 million in Series ‘A’ funding. Invested and contributed to CashKaro’s position as the most powerful player in the Cashback industry.
Korea Investment Partners Co., Ltd. – Korea Investment Partners ( A leading Venture Capital Firm )
Invested $10 million in Series ‘B’ funding to assist CashKaro in expanding into new markets and becoming a household name.
Ratan Tata – Former Chairman, Tata Group
Invested and contributed to CashKaro’s position as the most powerful player in the Cashback industry.
Cashkaro Business Model
Generally, you visit their site, then go shopping with your favorite online store’s app or website with standard payment plans and collect cash rewards which are deposited into your bank account.
That’s quite interesting!
They follow the affiliate marketing business model. Popular online shopping sites like Amazon, Big Bazaar, and Ajio have thousands of people who make direct purchases from them every day. They do, however, want more customers, as do all businesses.
Customers are drawn to them by CashKaro, and the platforms pay them a sales commission in exchange for introducing these clients to the digital platforms. This fee is typically a percentage of the total payment amount for the order.
The majority of the commission is then distributed to the consumer in the form of a CashKaro refund or cashback, that’s transmitted to the customer’s bank account after the return period has ended.
Cashkaro currently derives 30% of its revenue from the CashKaro Store Network and EarnKaro, with the remainder coming from CashKaro. Cashkaro has relied heavily on social media for numerous advantages.
CashKaro Competitors
Its top competitors are;
- GoPaisa
- BeFrugal
- Coupon Rani
- ShopAtHome
- TopCashback
- Cashrewards
- TalkCharge Technologies Pvt.
- Mr. Rebates
Final thoughts
It is one of India’s largest and fastest-growing cashback and coupon websites currently. They have become a one-stop destination for all our savings on all online shopping, enabling you to compare prices on various websites.
Swati and Rohan Bhargava have worked together efficiently and made this company a great achievement. All Kudos to them!
CashKaro FAQs
Can CashKaro be trusted?
It is one of the leading and most successful cashback apps and is safe to shop online. Your cashback can be redeemed in the form of cash or vouchers.
Is CashKaro a good app?
One of the best shopping apps for saving money on purchases by earning cashback.
How does CashKaro generate revenue?
The affiliate marketing model is how CashKaro makes money. CashKaro directs customers to online retailers such as Amazon and Myntra. And, in exchange for bringing these buyers to the online platforms, the platforms pay a commission on the sale.
Is Tata the owner of CashKaro?
Cashback and coupon platform CashKaro declared that it has raised a Series C funding round of 130 crores (approximately $15.7 million) led by Affle Global Pte. Ltd. Pouring Pounds India Pvt Ltd operates the platform, which is backed by Ratan Tata, chairman emeritus of Tata Sons.
What is the minimal amount to withdraw from CashKaro?
Rs.250
