November 30, 2022

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Cashkaro will get $16Mn in newest fundraise, targets 100Mn customers

Cashkaro, the favored cashback and coupouns platform, has introduced contemporary fundraise value $16Mn. The spherical was led by Affle International Pte Ltd (AGPL), a completely owned subsidiary of Singapore’s Affle Holdings Pte Ltd (AHPL). Together with this spherical, Cashkaro has now raised a complete of practically $27Mn throughout all its fundraises. Its present set of buyers embody Seoul based mostly Korea Funding Associate(KIP), Kalaari Capital, Ratan Tata amongst others.

Based in 2013 by LSE alumni and husband-wife workforce of Swati and Rohan Bhargava, The corporate had raised $10Mn in 2020 as part of its Collection B spherical and $3.8 million by means of its ‘Collection A’ spherical of funding with investments from Kalaari Capital, Korea funding Associate, Ratan Tata, amongst others.

“We’re excited to welcome AGPL as our shareholder. This funding would strategically strengthen our distinctive business-to-consumer (B2C) engagement mannequin as we scale CashKaro consumer base to over 100 million within the subsequent few years,” mentioned Rohan Bhargava, cofounder of CashKaro and EarnKaro, in an announcement.

Cashkaro claims to have pushed gross merchandise worth (GMV) value ₹4,000 crore for its associate ecommerce web sites in FY22 alone.

Cashkaro’s enterprise mannequin is constructed round commissions pushed from gross sales made on the associate e-commerce web sites by means of CashKaro hyperlinks. Each sale that’s made by way of CashKaro hyperlinks sees the associate web site pay a sure amount of cash again to the corporate within the type of a fee. CashKaro then additional provides a big portion of that fee again to its consumer base within the type of cashback. The consumer can then redeem the cashback as reward vouchers or deposit it to their respective financial institution accounts.

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There was an exponential rise within the recognition of cashback web sites inside booming e-commerce markets worldwide, and CashKaro goals to capitalize on that very wave and achieve the eye of potential customers throughout the Indian market.