CashKaro raises $10M in Series B round led by Korea Investment Partners

CashKaro, a Gurugram-based cashback and coupons site, has secured $10 million in Series B funding round led by Korea Investment Partners and existing investor, Kalaari Capital. “CashKaro has seen incredible growth over the last two years, while consistently reducing losses. We felt it was the right time to raise money and use it to tactically scale up marketing, open up new brand building avenues, user-acquisition, product development, and hiring new talent.” 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. “India is a growing market for us and CashKaro is a great way for us to participate in the Indian ecommerce industry. CashKaro and EarnKaro together have shown exceptional unit metrics and we are really excited to be a part of India’s affiliate story,” added Hudson Kyung-sik Ho, Managing Partner of KIP. According to Rajesh Raju, Managing Director of Kalaari Capital, who also participated in the Series B round of funding, “CashKaro has grown more than 5x in the last 12 months, have been ROI focussed, and is a clear market leader today. We foresee some truly exciting times for CashKaro in the coming years.”