PE Fund Investments
Cashback co CashKaro raises Rs.130-Cr led by Affle Global
Cashback and coupons platform CashKaro has raised INR 130 crore in a funding round led by Singapore-based Affle Global Pte Ltd (AGPL), a fully-owned subsidiary of Affle Holdings Pte Ltd (AHPL). This investment for a minority stake has flowed into Pouring Pounds UK, the parent entity of Pouring Pounds India which houses the CashKaro and EarnKaro brands. CashKaro has, including the latest round, raised over INR 125 crore from investors including Kalaari Capital, Ratan Tata, emeritus chairman of Tata Sons; Korea Investment Partners and others. CashKaro plans to use the proceeds from the current fundraise to scale up user acquisition, double down on marketing, and expand into new business verticals. CashKaro operates apps including EarnKaro, CashKaro Stores, and BankKaro. The company claims to have enabled 20 million members to earn cashback and rewards for online shopping at over 1,500 ecommerce sites including Amazon, Flipkart, Mamaearth, Boat, Tata 1mg, and Nykaa.
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