Money & Banking

Cashkaro looking to reposition itself as a savings destination

| | Updated on: Mar 09, 2017




Coupon site plans to upgrade website, enter into key partnerships soon, a popular cash-back and coupon site, plans an organic-cum-inorganic expansion programme, which it believes will help double its present gross merchandise value (GMV) of ₹70-100 crore a month in the next one year.

The four-year-old start-up, founded by wife-husband duo Swati Bhargava and Rohan Bhargava, seeks to position itself as a savings destination. It will re-launch its website with some enhancements and design changes. A mobile app will be launched soon.

“We are also working on strategic partnerships which will allow us to get inorganic growth. They will help us double the GMV value by next year,” said Swati Bhargava.

Echoing her views, Rohan Bhargava pointed out that the company would announce three key partnerships soon. “Each one of them will be meaningful to ramp up our business,” he said.

It recently introduced a new option on its site to do a price comparison of products. The move is part of its objective of moving from a cash-back site to a savings destination.

Ratan Tata has stake

The Ratan Tata-invested company, which helps buyers get discounts (in the form of cash-back and coupons) on e-commerce portals, has about 15 lakh customers.

Currently, five cities — New Delhi, Bengaluru, Mumbai, Hyderabad and Chennai — account for 70-75 per cent of its transactions. Tier-2 cities are gaining momentum. “Tamil Nadu accounts for 10-15 per cent of the total traffic coming to our site,” she said.

It has so far given out ₹35 crore in cash-backs to its members and expects this amount to touch ₹45 crore in the next two months.

It has enabled ₹1,000 crore in GMV till date and drives close to 10,000 transactions a day to its 1,500-odd partner websites.

The company is also looking to expand into South-East Asia and it will launch its cash-back site in Singapore in the near term. It has two offices. Its headquarter Gurgaon has about 75 people, while Chennai accommodates its 15-member technical team.

Published on January 13, 2018

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