CashKaro Raises INR 130 Crore In Series C Funding This minority investment by AGPL is in Pouring Pounds UK, which is the parent and owner of Pouring Pounds India that houses the brands CashKaro and EarnKaro
By Teena Jose
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CashKaro, a cashback and coupons app, has secured INR 130 Crore in a Series C funding round led by Affle Global Pte. Ltd. ("AGPL"). AHPL is the promoter of Affle (India) Limited and AHPL investors include Microsoft, Bennett Coleman and Company (BCCL), D2C (An NTT DoCoMo and Dentsu JV) amongst others. This minority investment by AGPL is in Pouring Pounds UK, which is the parent and owner of Pouring Pounds India that houses the brands CashKaro and EarnKaro.
"We are excited to welcome AGPL as our shareholder. 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 more than 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 CashKaro and EarnKaro.
B2C brand CashKaro through its various apps like CashKaro, EarnKaro, CashKaro Stores, BankKaro offers coupons, price comparison, deals to the consumers and enables its 20 million members to earn cashback and rewards for online shopping at over 1,500 ecommerce sites. In FY22, CashKaro drove gross merchandise value worth INR 4,000 crore to the partners, claimed by the company in a statement.
We are elated to announce our minority investment in CashKaro as they enter into the next phase of scalability and monetization. We appreciate the team, their strategic execution focus on profitable growth and commitment towards good corporate governance. We are optimistic of their product market fit for India and look forward to the continued growth trajectory of CashKaro," said Anuj Khanna Sohum, founder and chairman of AGPL.
