IBEF: September 16, 2020
In a Series B funding round, CashKaro, a Cashback and Coupons site, received US$ 10 million by Korea Investment Partners and Kalaari Capital, its existing investor. In total, this Gurugram-based start-up raised its funds to US$15 million.
In Series A, the company had received funding from Kalaari Capital, Ratan Tata and a group of London-based angel investors. CashKaro will use this amount to boost product development, hire new talent, try new brand building avenues, marketing and user-acquisition.
Rohan Bhargava, Co-Founder, CashKaro, said, “Our social cashback app EarnKaro was launched about a year ago and seeing its fast growth we are all very excited to deploy more funds towards its expansion.”
CashKaro was founded by Rohan and Swati Bhargava in 2012. It is a marketing channel for >1,500 branded e-commerce websites such as Amazon, Flipkart, Myntra and Ajio. These channels pay the company a commission for every transaction, and then a portion of this commission is given to its users as a cashback. This ‘Cashback’ can be redeemed as cash or as gift vouchers.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.