CashKaro has raised $10 mn in Series B funding round led by Korea Investment Partners (KIP) and existing investor, Kalaari Capital.
Speaking about the funding round, Swati Bhargava, Co-founder, CashKaro said, “We are delighted to welcome KIP as our shareholder. Their experience in guiding businesses like ourselves to scale will be immensely valuable to us. Our business has emerged strong amidst the global turmoil caused by COVID-19, and this fundraise is a testament to the potential that performance marketing holds in India.”
CashKaro’s business model is that it is a marketing channel for 1500+ ecommerce sites like Amazon, Flipkart, Myntra, Ajio, etc. Brands pay CashKaro commission for every transaction driven, and CashKaro passes a large portion of this as cashback to its members. This cashback can be redeemed as cash in a bank account or as Amazon/Flipkart gift vouchers.