Cashkaro raises $750,000 angel investment from group of UK based angel investors
UK based Pouring Pounds Ltd , which owns and operate Cashback and coupon portal - Cashkaro has raised $750,000 from a group of angel investors who work at companies like Investec, Gumtree, Paypal and Doug Scott who owns ASAP Ventures. Following the investment Doug Scott will join the board of Cashkaro as an investor and advisor of the company.
Cashkaro primarily helps consumers to save on regular online purchases like flight tickets, hotel booking, clothes, mobile recharge, bus tickets and more. Cashkaro has tied up with over 350 ecommerce companies like Yatra, Myntra, Freecharge, Jabong and Goodlife. For every customer that Cashkaro brings to these sites, it pays commission later on it passes back to the user as a “cashback”.
So far, Cashkaro has acquired over 75,000 registered members in a short span of time with a large number actually shopping through the site. Speaking about investment via press statement, Swati Bhargava, CEO and co-founder of Cashkaro said, ”We are very excited about the growth we are seeing in India and this fundraise enables us to establish ourselves as the market leader in our space. We offer both Cashback and Coupons to our members so I am sure the discerning Indian shoppers will see that savings offered by Cashkaro are doubled those when compared to coupon sites”.
Cashkaro is also planning to launch hundreds of top restaurants offers in Delhi and Mumbai. With this Cashkaro members will be able to get discounts and offer with chains like Nirulas, Subway, Dominos including restaurants like Olive, Monk at Galaxy, Veda and Smoke House Deli with several others. Founded by husband and wife duo - Rohan and Swati Bhargava Cashkaro.com competes with Pennyful.in which also offers cashback on each purchase through its website.