CashKaro registers 72% rise in revenues for FY26, EBITDA losses down 40%
CashKaro reported a revenue of Rs 600 crore and lower EBITDA losses has set the company on path to profitability
Cashback app CashKaro registered a 72% growth in revenue for FY26 while also reducing its EBITDA losses by 40% during the same period, reflecting improved unit economics.
This Gurugram headquartered company reported a revenue of Rs 600 crore for FY26 as compared to Rs 348 crore in FY25. The EBITDA for FY26 was Rs 17.7 crore as compared to Rs 29.2 crore in FY25 and said this showed a clear path to profitability.
Founded in 2013, the company has raised over Rs 250 crore in funding, CashKaro operates two models - cashback app and affiliate marketing platform.
On the performance of the company, CashKaro & EarnKaro co-founder Swati Bhargava said, “By design, we are unit economics positive on every transaction and a business that has significant network effects at play. Cashback is a billion-dollar business in the US, China and Europe and CashKaro is set to surpass them all, especially with our suite of India-centric products like EarnKaro.”
She further noted, “With 80% market share on Telegram, EarnKaro has fast become the No.1 traffic generator for ecommerce, enabling influencers to earn up to Rs 40 lakh a month. As entrepreneurs, this impact is what makes our journey truly satisfying.”
According to the company, CashKaro’s growth was driven by efficiency rather than incremental spend, with the platform enabling over Rs 10,000 crore in sales to partner brands. Marketing expenditure for CashKaro & EarnKaro increased by only 7.6%, despite strong revenue expansion, indicating improved customer acquisition efficiency and stronger conversion rates.
The employee and infrastructure costs also remained stable, supported by investments in AI and automation that enabled productivity-led scaling, it said and added, revenue growth significantly outpaced cost growth, demonstrating strong operating leverage.
CashKaro & EarnKaro co-founder Rohan Bhargava said, “As brands look to improve the efficiency of their marketing spend, many are shifting budgets from Google & Meta to affiliate-led performance marketing models like ours. As customer acquisition cost (CAC) continues to rise on these platforms, brands are increasingly seeing 4-10x better returns through affiliate models.”
The app has paid out over Rs 2,000 crore in cashback to users to date. CashKaro operates as a performance engine in the space, getting paid commission for every sale it drives to partners. Users shop via CashKaro and get paid a large part of this commission as cashback.
CashKaro said with improving profitability, strong consumer traction and continued investments in AI and creator-led commerce, it remains focused on scaling sustainably, deepening the cashback habit among Indian consumers and strengthening its position in the fast-growing savings-led commerce category.