Cashkaro.com raises $750,000 from overseas angel investors
Pouring Pounds is a UK company and runs 4 cashback sites in the UK that had expanded to India with Cashkaro in November 2012. Over the course of time, Cashkaro has tied up with 350+ top brands. In an announcement today, Cashkaro has raised $750,000 from London based angel investors.
Headquartered in Gurgaon, husband-wife duo of Rohan and Swati Bhargava are the co-founders of the Indian arm of Pouring Pounds. Rohan has spent 8 years in the hedge fund industry in London while Swati spent 5 years at Goldman Sachs. Pouring Pounds has raised funds before but this current fundraise is all for Cashkaro and would be used for team expansion and marketing.
350+ brands on board include the likes of Myntra, Snapdeal, Yatra and makemytrip. Users can get up to 50% Cashback when they shop at these sites and are also given free coupons. Basically, retailers pay Cashback commission for every sale it drives, and we the company gives users cashback from that.
Cashkaro claims to have 40,000+ users and is now actively working on growing faster.