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Online cashback and coupon Web site Cashkaro.com has raised Rs 4.5 crore ($7,50,000) from a group of UK-based angel investors, who have investments in companies such as Gumtree, Investec and Paypal.
The firm has also got on board Doug Scott, who owns UK’s leading online company ASAP Ventures, as an investor and advisor. ASAP Ventures also owns Discount Vouchers, UK’s third largest voucher Web site.
Cashkaro is the Indian arm of UK-based Pouring Pounds Ltd, which runs various cashback Web sites there. Founded by husband-wife duo Rohan and Swati Bhargava in 2011, Pouring Pounds launched its India operations Cashkaro.com in April this year.
“The funds would be used to strengthen our position in India. It also makes us the leader in the segment,” said Swati Bhargava. Cashkaro has partnered with over 350 brands such as Snapdeal, Myntra, MakeMyTrip, Dominos and Tradus.
The recent listing of coupon and cashback site RetailMeNot is a precedent for the immense growth potential of such sites in India, Bhargava added.
priyanka.pani@thehindu.co.in
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