CashKaro raises Rs 25 crore in Series A funding from Kalaari Capital

Online cashback and coupon site CashKaro.com has raised Rs 25 crore in Series A funding from venture capital firm Kalaari Capital.
CashKaro raises Rs 25 crore in Series A funding from Kalaari Capital

Online cashback and coupon site CashKaro.com has raised Rs 25 crore in Series A funding from venture capital firm Kalaari Capital.
Started in August 2013, Gurgaon-based CashKaro works on an affiliate model with ecommerce sites such as Amazon, Snapdeal and Shopclues. India's growing online cashback and coupon business relies on net margins ranging from 2 per cent to 3 per cent for redirecting traffic to ecommerce sites and converting it into purchases through coupons, price comparison and cashback schemes.
"The ecommerce market in India will grow upwards of $100 billion over the next decade. There are billion dollar cashback businesses globally and we believe CashKaro can achieve similar scale in Asia," said Rajesh Raju, MD at Kalaari Capital. India's ecommerce market is estimated to close over $12 billion in sales this year.
Cashkaro said it will use the funds raised to expand internationally and upgrade technology.
"We will use the money for international expansion in markets such as Indonesia, Singapore and other nations in southeast Asia," said Swati Bhargava, CEO at Cash-Karo.
The company also plans to launch an Android and iOS app in 2016. CashKaro claims to have credited over Rs 20 crore as cashback to users on its site in the last two years.
In 2013, the company had raised $750,000 from a group of UK-based investors working as senior executives in companies such as Paypal, Investec and Goldman Sachs.

Publish Date
Not Sponsored
Live: People Reading Now
 
 
 
 
TRENDING ARTICLE
RECOMMENDED FOR YOU