Cashback and coupons platform CashKaro, subsidiary of Pouring Pounds India, secured Rs 130 crore (about$ 15.7 million) in a Series C funding round led by Affle Global. It was the only investor in the funding round.
The startup plans to deploy the fresh capital to scale up user acquisition, marketing, expansion into new business verticals, product development and hiring new talent.
The company has raised a total of about Rs 125 crore in previous financing rounds. The platform raised $10 million in a Series B funding round led by Korea Investment Partners in September 2020, prior to that, it raised $4 million in Series A funding from Kalaari Capital and existing investors in November 2015.
The firm, in June, reported revenues amounting Rs 225 crore in last fiscal year as against Rs 97 crore in FY21. With the help of the increased revenue, it plans to shore up hiring and double its revenue in the current financial year.
CashKaro was founded by Swati Bhargava and Rohan Bhargava, both graduates of the London School of Economics, in February 2011. The B2C brand offers coupons, price comparisons, and deals to its customers via various applications such as CashKaro, EarnKaro, CashKaro stores, and BankKaro. It claims to have more than 20 million users on its platform, with its offers available at over 1,500 across ecommerce websites. It has collaborated with various e-commerce platforms including Amazon, Flipkart, Myntra, Mamaearth, Boat, Tata 1mg and Nykaa.
Categories: Other News
Leave a Reply Cancel reply