Cashback and coupons site Cashkaro.com has crossed ₹1.5-crore mark in paying back cash to its members in the first year of operation. This means that every time a customer has visited an e-commerce site via Cashkaro and shopped, they have earned additional cashback on their order.
The cashback site, with over 2.5 lakh registered users and 500 top e-commerce sites, expects to reach the ₹5-crore mark by end-2015.
Swati Bhargava, founder of Cashkaro said, “We are very excited to have crossed this milestone within one year of starting out in India. Cashkaro.com is the first and quickest to have done this and it not only validates our business model, it also shows that Indians love savings! We will continue to work hard to bring even better offers to Cashkaro members, enhance their shopping experience and partner with more retailers, thereby, retaining our leadership position in the industry.”
Leading e-commerce brand Paytm, which is associated with Cashkaro, said the cashback site has created one of the most effective customer acquisition platforms for e-commerce Web sites in India. Paytm has acquired high quality transacting users through Cashkaro.
Rohan Bhargava, Co-founder Cashkaro.com, attributes the company’s successful journey to the creation of an in-house technology platform, a good team and a buoyant e-commerce scenario in India.
Cashkaro charges a commission for every sale it drives and shares that as ‘cashback’ with its members. It witnesses over 1,000 transactions daily, with the fashion and electronics categories contributing 38 per cent and 34 per cent respectively.