Cashback and coupon site CashKaro has bagged $10 million from Korea Investment Partners and existing investor Kalaari Capital. With the funds, the New-Delhi based startup said it will expand its range of services for ecommerce ahead of the festive season.
It will splash 5 times more of their usual marketing budget in the following 2 months. They also plan to hire and invest in new products like Earnkaro, which allows anyone to become an affiliate marketer, promoting products on any of the 1,500 ecommerce businesses listed on Cashkaro’s platform.
Brands are seeing more people coming online and want to capitalise on that. They are increasing their marketing spends as there’s a whole new base of shoppers to capture. “Businesses like ours stand to benefit from the growth of ecommerce and COVID-19 is leading to a lot of that growth,” said CashKaro’s cofounder Swati Bhargava.
Cashkaro Sailing Through The Odds
In earlier rounds, Cashkaro managed to fetch $5 million in total, out of which, it raised $3.75 million as a part of its Series A funding from Kalaari Capital and Ratan Tata in November 2015.
The company claims in the past two years they have been sparing the capital and cutting the losses. Meanwhile, CashKaro itself managed to speed up its revenue by 4X in the current financial year, however, some losses might creep in due to intensive spending.
Bhargava said CashKaro was positive about its strong performance in the upcoming sales as its own survey had shown that people were not looking to step into offline stores unless necessary and that brands were also looking to divert marketing spends from advertisements to performance marketing. “Gone are those times when brands have unlimited amounts of capital. Brands are more inclined to work on a cost per transaction basis,” Bhargava added. займ без залогазайм от частного лица самараполучить займ быстро займ на карту с 18 лет без отказавзять займ онлайн быстрозайм срочно онлайн на карту