CashKaro will now have a presence in three countries -- PouringPounds.com in United Kingdom, ZoBucks.com.sg in Singapore and CashKaro.com in India.
Cashback providing platform, Cashkaro.com, is now expanding in the Singapore market with ZoBucks.com.sg. The company will now have a presence in three countries — PouringPounds.com in United Kingdom, ZoBucks.com.sg in Singapore and CashKaro.com in India.
Founded by the couple duo Swati and Rohan Bhargava in 2012, CashKaro is a coupons and cashback site– rewarding customers for visiting online retailers through their platform. Talking on the launch of ZoBucks, Swati Bhargava said, “We are excited to bite into Singapore’s Cashback Industry and the untapped potential of over 5 million internet users it offers. Having pioneered the Cashback habit in India, we are certain ZoBucks will add immense value to the lives of Singapore’s online shoppers as well.”
Every time a user visits a platform through ZoBucks, the platform pays a commission to ZoBucks. That commission is used for for giving discounts to users and a part of it is kept by the company. The company claims to offer up to 20 percent discount when shopping through ZoBucks. These discounts can be used as cashbacks directly to the user’s account and gift vouchers
According to the founders, online retailers in India have claimed over 15 percent of their complete business from affiliate marketing and that is the most effective ROI channel for them. Adding to that, she said, “As we have seen in mature markets like India, cashback deals have become integral to how people shop online and we believe the same shall happen in Singapore. We are confident that this expansion will give Singapore the same smile we’ve spread across India using the joy of extra savings.”
Backed by the likes of Ratan Tata and Kalaari Capital, CashKaro offers up to 50 percent cashback on online shopping through platforms like Flipkart, Amazon, Paytm and others. The company claims to have partnered with over 1500 online shopping platforms.
The company has raised a total of $5 million since its inception. They raised $3.8 million in Series A round of investment from Vani Kola’s Kalaari capital. Ratan tata has also invested in the company.
The ecommerce market in India is expected to hit the mark of $200 billion by 2026, while the value of market is expected to cross $50 billion this year. Online spending, inclusive of domestic and international shopping, is expected to multiply by 31 percent y-o-y to Rs 8.76 trillion
According to a recent research, Singapore is one of the most lucrative markets for ecommerce companies. FOr instance, Alibaba has around 14 percent stake in Singapore’s company Singpost, which offers logistics and delivery services across south east Asia. This investment helped Alibaba overcome significant logistics and delivery hurdles in the market of Indonesia, Philippines, Thailand and Vietnam. Similarly, Amazon chose Singapore as its first entry point in the APAC region