Cashback and Coupon Site Cashkaro Raises Investment from Ratan Tata
Cashback and Coupon site, Cashkaro, has raised an undisclosed amount from Ratan Tata. Tata has made the investment in his personal capacity. The funding comes just two months after the Gurgaon based startup raised Rs 25 crores in its Series A funding led by Kalaari Capital.
CashKaro works on an affiliate model and was founded by entrepreneur couple Swati & Rohan Bhargava in mid-2013. The company had raised $750,000 in the year 2013 in angel funding from a group of investors based in London who belong to companies like Paypal, Investec, Goldman Sachs etc,
It works with over 1000+ online retailers including the most popular sites in India such as Amazon.in, Paytm, Jabong, ShopClues, etc. CashKaro receives a commission from retailers from which it pays Cashback. This cashback is in the form of real cash which is paid over and above all other Coupons & Discounts.
The company claims to have over 10 Lakh registered users on the site and over 5 million page views every month. CashKaro has already credited Rs 30 crores in real cash as Cashback to its members and expects to cross Rs 1000 crores in GMV in the next few months.
Ratan Tata is on the Advisory Board of Kalaari Capital and lends his expertise to guide and mentor Kalaari portfolio founders.
Speaking on the investment, the founders said, “The funding from Mr. Ratan Tata marks another milestone in CashKaro’s three-year journey. We are privileged to have him come on-board as an investor. His expertise and insight will be immensely helpful as CashKaro.com expands to newer markets and pursues an aggressive customer acquisition strategy.”