National, November 16, 2015
India’s top coupons and Cashback website i.e. CashKaro has secured Rs.25 crores from the venture capital firm Kalaari capital. CashKaro has changed the way people shop online in India by giving them that ‘extra’ which helps them in making their online shopping rewarding. A successful idea nurtured by entrepreneur couple Swati and Rohan Bhargava, CashKaro has scored its latest batch of funding. Previously, the company raised USD 750,000 in year 2013 from a group of investors in angel funding.
CashKaro has been tremendously popular in winning hearts as it encashed on Indian’s love for savings. The Cashback and coupons website has partnered with more than 100 retailer websites such as Amazon, Snapdeal, Shopclues, Flipkart, etc. This means that you can be assured of having the most gratifying online shopping experience via CashKaro. Not only you get discounts to lower your billing amount, but also awesome Cashback offers to increase your savings. With CashKaro’s recent venture into Product discovery and price comparison, you need not go anywhere else to find a product of your choice at the best prices. CashKaro has credited over Rs.20 crores as CashBack and scored over Rs.500 crores in GMV.
Speaking on the fundraise, Swati & Rohan Bhargava, Co-founders, CashKaro said, “Affiliate sites account for 15-20% of ecommerce sales in India and because the model is performance based it is also recognized as a key marketing channel for retailers. In Kalaari Capital, we have found the right advisors to scale up our business and build a robust ecosystem. Having been early investors in many successful ecommerce businesses like Snapdeal, Myntra, Zivame, they have a wealth of experience in this sector which will be extremely valuable. With infusion of these funds, we plan to take CashKaro to new markets and pursue an aggressive customer acquisition strategy while focusing on extending our mobile initiatives including launching the CashKaro mobile app.”
They have stated, “We expect to cross Rs.1000 crores in GMV and credit more than Rs.35 crores as Cashback in the next few months.”
Speaking on the investment, Rajesh Raju, Managing Director at Kalaari Capital said, “We at Kalaari Capital are always on the lookout for savvy entrepreneurs that are building businesses leveraging strong macro themes. We believe the eCommerce market in India will grow to upwards of $100 billion over the next decade and companies with unique offerings that help fuel the overall market growth will benefit immensely. CashKaro perfectly represents India’s love for savings and will play a key role in the growth of the eCommerce market. There are Billion dollar Cashback businesses globally and we believe with Swati & Rohan helming CashKaro we can achieve similar scale in Asia. We welcome CashKaro into our portfolio and look forward to building it as the default destination for online savings in India.”
CashKaro has grown on to become India’s premium Cashback and coupons website. It has partnered with over 1000+ retailers such as Amazon, Flipkart, Snapdeal, Paytm, Shopclues, Jabong, Fashionandyou, MobiKwik to help you make your online shopping pleasing. Whenever you shop on an online shopping website via CashKaro, you not just get the best deals but also tempting Cashback offers to reduce your shopping expenses. Users can also compare prices and discover products here.
About Kalaari Capital Advisors:
Kalaari Capital has $650 million under management with a strong advisory team in Bengaluru, investing in early-stage, technology-oriented companies in India. We are passionate about investing in entrepreneurs who are poised to be tomorrow’s global leaders. We seek companies that are capturing new markets, providing innovative solutions and generating lasting results. We are India’s leading investor in early-stage businesses, nurturing them through every aspect of growth on the transformative journey towards success. Since 2006, we have worked closely with over 60 companies including market leaders such as Snapdeal, Myntra, Via, Medplus, Urban Ladder, Simplilearn, Attero and Zivame. kalaari