SUMMARY
CashKaro’s operating revenue increased 15% YoY to INR 248.6 Cr in FY23 with the sale of e-vouchers becoming a new revenue stream
The startup’s total expenses increased 13% YoY to INR 262.8 Cr in FY23 with the addition of purchases of e-vouchers as a new expense head
Its spending on cashback comprised the biggest part of its expenses, which stood at INR 137 Cr in FY23
Coupons and cashback app cashkaro
’s net loss narrowed 25% to INR 11.1 Cr in the financial year 2022-23 (FY23) from INR 14.8 Cr a fiscal ago, helped by the addition of a revenue head from the sale of e-vouchers.
Founded in 2013 by Rohan and Swati Bhargava, CashKaro offers coupons, price comparisons, and deals to consumers, allowing users to earn cashback and rewards for shopping online across over 1,500 ecommerce platforms, including Nykaa, Amazon, Flipkart, Tata1MG and Myntra.
Its two main operating revenue sources in FY23 were from platform services and the sale of e-vouchers. The startup’s operating revenue grew 15% to INR 248.6 Cr in the reported year from INR 216.2 Cr in FY22. In this, INR 230.6 Cr came from its platform services while INR 18 Cr was from the sale of e-vouchers. In FY22, CashKaro did not earn any revenue from the purchase of e-vouchers.
Including interest income, excess provisions written back, and other non-operating income, CashKaro’s total revenue stood at INR 251.7 Cr in FY23 as against INR 217.8 Cr in the prior year.
In FY23, CashKaro also raised INR 130 Cr ($15.69 Mn) in its Series C funding round to strengthen its B2C engagement model and scale business. The round was led by Affle Global.
CashKaro is also backed by the likes of Ratan Tata, Kalaari Capital, and Korea Investment Partners.
Zooming Into Expenses
In line with its growing business, the startup’s total expenses increased 13% to INR 262.8 Cr in FY23 from INR 232.6 Cr in the year before with the addition of purchases of stock-in-trade as a new expense head.
Purchases Of Stock-In-Trade: CashKaro’s spending for the purchase of e-vouchers stood at INR 17.9 Cr in the year under review, which was zero in FY22.
Employee Cost: The startup’s employee benefit expenses witnessed a sharp jump of almost 50% to INR 29.3 Cr in FY23 from INR 19.6 Cr in the year before. Of this, INR 26.2 Cr was spent towards salaries and wages, a jump of 46.5% year-on-year (YoY).
Advertising Promotional Expenses: CashKaro’s ad expenses increased about 21% to INR 57.8 Cr in FY23 from INR 47.8 Cr a year ago.
Cashback: The startup’s spending on cashback comprised the biggest part of its expenses, which stood at INR 137 Cr in FY23. However, it was a 2.4% YoY decline from INR 140.4 Cr spent in FY22.
As per CashKaro’s website, the startup crossed the 20 Mn users mark in 2023. It has also paid over INR 700 Cr in cashback so far.
FAQs
CashKaro Narrows Its Loss 25% YoY In FY23, Crosses INR 250 Cr Revenue Mark. Coupons and cashback app CashKaro's net loss narrowed 25% to INR 11.1 Cr in the financial year 2022-23 (FY23) from INR 14.8 Cr a fiscal ago, helped by the addition of a revenue head from the sale of e-vouchers.
Is CashKaro in loss? ›
CashKaro.com reports INR 11.1 Cr FY23 loss | Inc42 Media posted on the topic | LinkedIn.
What is the revenue of CashKaro? ›
CashKaro's revenue from operations increased by 15.28% to Rs 249 crore in FY23 from Rs 216 crore in FY22, its consolidated annual financial statements filed with the Registrar of Companies show.
Does CashKaro really work? ›
Love this app! Helps me save so much money. They always have so many deals, usually you won't find them anywhere. Even the retailers themselves won't give you such prices.
How does CashKaro make profit? ›
CashKaro provides cashback to its users when they shop for products from its partner platforms like Amazon, Ajio, Flipkart, and Myntra, among others. "We are paid by our partner merchants. We deduct some margin and pass the rest of the money to our users. Therefore, we have a profitable business model.
Is CashKaro owned by Tata? ›
Launched by Rohan and Swati Bhargava, the company was soon backed by the most revered name in the industry, Mr. Ratan Tata. Tata Sons Chairman Emeritus Ratan Tata, invested in the company in 2016 after CashKaro had raised 25 crores from the leading venture capital firm, Kalaari Capital.
Who is the owner of CashKaro? ›
The publication mentions that 'In less than a decade, Swati Bhargava & Rohan Bhargava, alumni of the London School of Economics - have set up three successful ventures across India, the U.K., and Singapore. '
Who are the investors in CashKaro? ›
Cashkaro is an Indian cashback and coupons site. They are backed by Mr. Ratan Tata and Indian VC firms, Kalaari Capital.
Which industry is CashKaro under? ›
Company profile of CashKaro
Web-based platform offering cashback and coupon offers from eCommerce portals. The platform provides cashback and discount offers for a wide range of online shopping brands.
How many employees does CashKaro have? ›
Cashkaro.com employs 51 to 200 employees in India.
CashKaro Rewards
One of the best ways to save money online, CashKaro offers additional rewards, over and above the discounts curated by retailers. Once you recharge on Amazon via CashKaro, you will be eligible to earn rewards back into your CashKaro account.
Can I withdraw money from CashKaro? ›
When you have earned a minimum of Rs. 250 as Confirmed Cashback, you may withdraw the earnings to your (Indian) Bank Account via NEFT. You may also take them as Amazon or Flipkart Gift Cards.
Which are the best sites like CashKaro? ›
Top 7 cashkaro.com Alternatives & Competitors
- grabon.in. 16,575. Country Rank: India. ...
- coupondunia.in. 47,440. Country Rank: India. ...
- cashaly.com. 110,534. Country Rank: India. ...
- paisawapas.com. 31,433. Country Rank: India. ...
- desidime.com. 15,501. Country Rank: India. ...
- happycredit.in. 117,459. Country Rank: India. ...
- zoutons.com. 147,498.
Including interest income, excess provisions written back, and other non-operating income, CashKaro's total revenue stood at INR 251.7 Cr in FY23 as against INR 217.8 Cr in the prior year.
How does cashback make profit? ›
The bottom line. Cash back sites spend money to make money because stores pay a commission to the cash back site that is then shared with you, the shopper.
Do CashKaro earnings expire? ›
Preventing expiry of earnings: In order to prevent your Earnings from getting expired, you must login to your CashKaro account via website or application at least once every 2 years.
What is the user base of CashKaro? ›
We are investing in growing our user base. At present, we have 25 million users which has grown from 16 million last year. "With the increase in e-commerce business, we should be able to make 100 million in the next three years," Bhargava said.
’s net loss narrowed 25% to INR 11.1 Cr in the financial year 2022-23 (FY23) from INR 14.8 Cr a fiscal ago, helped by the addition of a revenue head from the sale of e-vouchers.
