ADVERTISEMENT

CashKaro Secures 10 Million USD in Series B Funding Round
C

CashKaro, a Gurugram-based startup, will use the latest fundraise to grow its new social app EarnKaro that offers cashback and hire new talent. It has recently raised 10 million USD from Korea Investment Partners in a Series B funding round.

CashKaro (1) is a cashback and coupon platform that encourages ecommerce in India. The Gurugram-based startup has recently raised ten million USD in its Series B funding round. The latest fundraising was led by KIB (Korea Investment Partners). Its existing investors also participated in the round, including Kalaari Capital.

Previously the company had secured its angel and Series A funding round from Ratan Tata, Kalaari Capital, and angel investors based in London. Notably, KIB is a leading venture capital that has over 30 years of experience in investments. The firm has over 3 billion USD worth of assets under its management across the globe.

CashKaro Co-founder Rohan Bhargava stated that since its inception, the platform had seen exceptional growth. He added that the firm is continuously reducing its losses. The team is raising capital to ramp up marketing, product development, user acquisition, opening brand building avenues, and hiring new people. 

Rohan also stated that their new app EarnKaro, a social cashback platform, launched a year ago, is snowballing. He is excited to allocate more funds for its expansion. In 2019, CashKaro entered the social commerce world with EarnKaro. Notably, the platform already has more than one million registered resellers. Students, homemakers, and resellers find it easy to make money on EarnKaro

 

CashKaro is an Emerging eCommerce Platform in India.

Many influencers are also using the app to monetize their recommendations and networks. Users can quickly convert their ecommerce links into Earnkaro links and share these links on WhatsApp, Youtube, Telegram, and other social media platforms. When people shop via the links, they can earn profit in real cash.

Swati Bhargava, CashKaro Co-founder, stated that they are delighted to welcome KIP as their shareholders. She added that the firm has a vast experience in guiding similar business, which is highly valuable. The company is doing well despite the COVID-19 turmoil across the globe. The latest fundraise an indicator of the potential of Indian performance marketing, she added.

CashKaro has over five million users today, with over ten lakh monthly transactions. The members of the app have earned over 150 crore INR as cashback. The company has secured over 25 million USD from its investors, including Kalaari Capital, KIP, and Ratan Tata. 

+ posts

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

Ola Electric announced the acquisition of Etergo BV. Ola Electric has also announced its entrance into the premium electric two-wheeler market

Is Etergo’s acquisition brewing trouble for Investors?

0
Ola Electric Mobility Pvt Ltd had announced (1) the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and...
From a website that only offered menu details to a full-fledged food ordering app, Zomato's rise has been rocking the birth of a new industry.

Zomato Revolutionizing the Food Industry

0
Beginning something like Zomato was out of an experience. One fine morning, Pankaj Chaddah and Deepindar Goyal were in Delhi's office when they saw...
The Indin government had warned Amazon and Flipkart to comply with the new rules and specify the product's country of origin, Amazon was also penalized.

The ‘Country of Origin Rule’ and Why it Matters to India?

0
India's government has fined ecommerce giant Amazon 25,000 INR for not displaying mandatory information, including the country of origin for its products (1). Last...
Stripe, one of the world's leading digital payment players, will soon penetrate Southeast Asia and India to expand its overseas activities.

Is Stripe’s entry to e-commerce Asia a bet on risk or return?

0
The entry of global players such as PayPal, Payoneer, and now Stripe in the Asia Pacific region validates the increasing market opportunity and evolving...
Paytm is also on its path to become a super app and give its users an all-in-one experience by offering a bundle of services.

Paytm Paving into a Super App, Expand its Service Offering

0
Paytm has pulled another conquest when the marketing reckon that it would take a kickback. Earlier, when there was buzz that Paytm is venturing...
The recent discussion now involves a massive data leak that put the information of students, teachers, and much more in crisis for WhiteHatJr.

WhiteHatJr Data Leak Controversy: Unfolded

0
Not too long ago, a live online coding platform for children, White Hat Jr., scripted a dream escape for itself. Byju's, the poster boy...
The story of Ashok Varma could be deemed as the most praiseworthy and controversial story of an ideal mind whose focus was to shift the market.

Meticulous and determined till the end: the story of Ashok Varma

0
Our world has been most captivated by the ideas of extreme players who took the world by storm, some who pulled the stock market...
It has been understood that Google, has been in talks or is in a state of mind to acquire Sharechat, the Indian social media platform.

Is Google taking the right measures to acquire Sharechat?

0
Sharechat has been India's go-to to engage in a short video and take a peek or have fun after the ban of the international...
ADVERTISEMENT