Swati Bhargava and her husband Rohan Bhargava are the founders of Cashback.
CashKaro features more than 1500 retailers.
Whether you accept it or not, we all love unexpected cashback from financial applications like Paytm and Amazon Pay. What if we tell you that there is an application that provides cash back every time a person shops via online platforms? How? Using CashKaro. India’s biggest cashback and coupon website, CashKaro features more than 1500 retailers. Through CashKaro, you can receive real cashback on your transactions and deposit it into your bank account. If you purchase using the CashKaro app or website, this works for your transactions on retail websites like Amazon, Ajio, Myntra, and Mamaearth.
Isn’t it interesting? Wondering who established this startup? Swati Bhargava and her husband Rohan Bhargava are its founders. There is an interesting story behind this initiative. In 2009, Swati married investment banker Rohan. For their honeymoon trip to the United Kingdom, the duo booked their flight through a cashback website. Swati and Rohan saved a lot of money by doing this, and that’s how they developed an idea to set up their brand.
They established a rewarding business in the UK. In 2013, they established a comparable business in India with 17 staff members and interns. To coincide with India’s time zone, they would conduct their remote job at odd hours. They intended to raise money in 2014 and got in touch with their college peers and seniors. To their wonder, they raised twice as much money as they planned to in just 48 hours.
In 2015, they received Rs 25 crore from Kalaari Capital; and in 2016, Ratan Tata provided them with funding. At Taj Mumbai, Swati Bhargava and Rohan Bhargava shared their business plan with Ratan Tata. He was impressed and said, “In a country that loves to save money, you are giving free money. This is not fair”.
Thousands of people buy directly from established online retailers like Amazon, Myntra, Ajio, and Big Bazaar every day. Every business wants more clients and this is how CashKaro plays with these brands. These customers come to them through CashKaro because of the cashback offers. The cash-back platform pays these online retailers a commission from the transaction in exchange for sending these customers to the online platforms.
This commission typically represents a percentage of the overall cost of an individual order. When the return time has passed, CashKaro will send the majority of that commission to the customer, in the form of CashKaro Cashback, which can then be transferred to your bank account.
Currently, CashKaro has more than 18 million downloads and is the only VC-backed cashback website. It has received about $15 million in Series A funding led by Kalaari Capital and Series B funding led by Korea Investment Partners. Annually, CashKaro generates more than $500 million.
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