Cashback and Coupon website, Cashkaro has recently crossed INR 1.5 crore mark in Cashback paid to members, ahead of completing its first year of operations on 11th April 2014. The site currently has 2.5 lakh registered users and is said to have more than 1000 transactions daily. It currently works with ecommerce brands in India like Amazon.in Jabong, Myntra, Yatra, Paytm and more. Also, the team had raised seed fund of USD 750, 000 in mid 2013 from UK based angel investors.
After its presence in the UK market for past two years, Pouring Pounds which runs 4 cashback sites in UK, had last year entered into the Indian market as Cashkaro.com. It provides users with upto 50% cashback when they shop at associated ecommerce sites via cashkaro. After keeping a small portion of commission, the rest is passed on to the customers as cashback. As a USP, Cashkaro also offers free coupons, thus providing users both cashback and free coupons.
While cashback was a successful business across the globe, it was just the coupon sites making in-roads in India. Rohan Bhargava, Co-founder Cashkaro.com, also cite various reasons for their success in Indian market.
“Our experience from UK Cashback site Pouring Pounds, customer base in India, in-house technology platform, a great team and buoyant e-commerce scenario in India, enabled us to constantly enhance services and add more features to Cashkaro,” said Rohan.
The cashback site started with 100 e-commerce partner brands and now have over 500 associations. It has members from major centres such as Delhi, Bangalore, Hyderabad, Mumbai and Chennai and an increasing number coming from smaller cities and towns such as Chandigarh, Bhopal, Lucknow. They expect to reach the Rs 5 crore mark in cashback paid by end 2015.
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