Affle Global Pte. Ltd. led the Series C investment round for the cashback and coupon platform CashKaro, which is run by Pouring Pounds India Pvt. Ltd., on Thursday, raising Rs 130 crore (about $15.7 million).
According to Swati Bhargava, co-founder of CashKaro and EarnKaro, the startup intends to use this funding to scale up user acquisition, marketing, expansion into new business verticals, product development, and hiring new talent, as per reported by VCCircle.
“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. This deal will augment our position as the largest savings destination in India that provides the best deals, price comparison, coupons and highest Cashback to our members and enable us to offer more data driven solutions to online shoppers in India,” said Rohan Bhargava, co-founder of CashKaro & EarnKaro.
The company has reportedly raised roughly Rs 125 crore through prior investment rounds, according its announcement. In September 2020, Korea Investment Partners led a $10 million Series B fundraising round for the B2C platform. CashKaro received $4 million in Series A fundraising in November 2015 from Kalaari Capital and preexisting investors.
About CashKaro & EarnKaro
In February 2011, Swati and Rohan Bhargava, both London School of Economics graduates, established CashKaro. Through a number of applications, including CashKaro, EarnKaro, CashKaro stores, and BankKaro, the B2C brand provides its clients with discounts, price comparisons, and bargains.
With its offerings being made available on more than 1,500 e-commerce websites, it claims to have more than 20 million consumers on its platform. Platforms like Amazon, Flipkart, Myntra, and brands like Mamaearth, Boat, Tata 1mg, and Nykaa are just a few of the companies it has partnered with.