CashKaro couldn’t get more lucky, bags investment from Ratan Tata

Tata Sons’ Chairman Emeritus Ratan Tata is riding on an investment spree. The latest company to join his portfolio of start ups is Gurgoan based CashKaro.com. It was founded in 2013 by entrepreneur couple Swati and Rohan Bhargava. Cashkaro is a coupon and cashback website based in India. The start up works with over 1, 000 online shopping portals like Amazon.in, Paytm, Jabong and ShopClues. Users get up to 30 percent cashback by logging in to CashKaro and do their shopping through it’s affiliated sites. 

This is the third investment in line by industrialist Ratan Tata in year 2016. The earlier two being Tracxn and Dogspot in January. The business icon invested in about 14 start ups in 2015 including UrbanClap, CrayonData and Paytm. 

“The funding from Mr. Ratan Tata marks another milestone in CashKaro’s three-year journey. We are privileged to have him come on-board as an investor. An investment by him is an affirmation of the opportunity that CashKaro is addressing and the relentless efforts of the team towards building a large, valuable savings destinations that millions of Indians love. His expertise and insight will be immensely helpful as CashKaro.com expands to newer markets and pursues an aggressive customer acquisition strategy,” the Bhargava’s said.

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This Cashkaro investment comes about two months after CashKaro.com raised Rs 25 crore by early stage investor Kalaari capital. The company claims to be the largest cashback site in India with over 10 lakh-registered users and over five million page views a month. The firm claims to have credited Rs 30 crores worth of cashback to its members. It is targeting to cross Rs 1,000 crore in gross merchandise value in the next few months. 

“We’re also investing in developing our technology features more for price comparison and product discovery which make the CashKaro the one stop shop for online savings,” said Swati, an ex-Goldman Sachs employee. 

CashKaro account for over 15 per cent of e-commerce sales in India. LafaLafa, GoPaisa and Pennyful are some of the competitors that CashKaro faces. 

However, with a star investor like Ratan Tata they’re ready to face the competition!