Gurugram-based CashKaro Raises Rs 130 Cr In Series C Funding Round
Gurugram-based cashback and coupons site CashKaro has raised Rs 130 crore in a Series C funding round.
The funding round was led by Affle Global Pte. Ltd. (AGPL). Including this funding round, CashKaro has, so far, raised over Rs 255 crore from prominent investors like Kalaari Capital, Ratan Tata, and more.
As per the firm, the raised funds will primarily be used for the expansion of the CashKaro and EarnKaro brands and for new technology and product development.
CashKaro | Cashback & Coupons Site
Founded by Rohan Bhargava and Swati Bhargava, CashKaro, through its various apps like CashKaro, EarnKaro, CashKaro Stores (for assisted ecommerce), and BankKaro, offers coupons, price comparison, and deals to consumers.
The firm enables its 20 million members to earn cashback and rewards for online shopping at 1,500+ ecommerce sites.
Speaking about the development, Rohan Bhargava, Co-Founder of CashKaro and EarnKaro, said,
“We are excited to welcome AGPL as our shareholder. This investment would strategically strengthen our unique business-to-consumer (B2C) engagement model as we scale CashKaro from our current 20 million user base to 100 million+ over the next few years.”
Rohan added that this deal would augment CashKaro’s position as the largest savings destination in India, providing the best deals, price comparison, coupons, and highest cashback to its members. Additionally, it will enable them to offer more data-driven solutions to online shoppers in India.
As per Swati Bhargava, CashKaro has seen fast and cost-efficient growth over the last two years, scaling from Rs 100 crore revenue in FY21 to Rs 225 crore in FY22 while consistently keeping losses under Rs 10 crore.
Commenting on the development, Swati Bhargava, Co-Founder, CashKaro & EarnKaro, said,
“We felt it was the right time to raise money and scale up our user acquisition, marketing, expansion into new business verticals, product development, and hiring new talent. AGPL’s journey is inspiring, and we are glad to have them as our shareholders as we cross new milestones.”
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