Gurgaon-based cashback and coupon stage Cashkaro has brought Rs 25 crore up in Series A subsidizing from Kalaari Capital. This is the first speculation by any VC firm in cashback (aside from coupons, arrangements) site in India. The organization will utilize the assets towards building the brand, advertising, and universal extension.
Cashkaro offers coupons and cashback more than 1,000 accomplice sites and has as of late forayed into item hunt and revelation fragments. The organization cases to credit over Rs 20 crores over a million enrolled clients as cashback. With this round, it is likewise looking at to extend its operation to Singapore and other SEA markets.
Swati and Rohan Bhargava, Co-founders of CashKaro.com telling about fund securing said, “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 e-commerce businesses like Snapdeal, Myntra, and Zivame, they have a wealth of experience in this sector which will be extremely valuable. With the 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.”
Rajesh Raju, Managing Director at Kalaari Capital speaking about investment said, “We believe the e-commerce 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 e-commerce market.”
Cashkaro takes after associate model and on a normal it cases to procure two for each penny of exchange size.
As indicated by the IAMAI report this year, associate destinations represent 15-20 percent of e-business deals in India and in light of the fact that the model is execution based it is likewise perceived as a key advertising channel for retailers.