How Cashkaro cut down its losses from ₹1.6 crores to ₹12 lakhs
- It has also seen a 76% revenue growth, with it growing from ₹22.4 crores in FY18 to ₹38.6 crores.
CashKarousers can shop e-commerce sites like Amazon, Flipkart, Myntra and others to receive cashbacks.
- In an interview with Business Insider, Swati Bhargava, co-founder, CashKaro explains how they cut losses.
Its revenues grew by 76% from ₹22.4 crores in FY18 to ₹38.6 crores in the financial year ending March 2019.
CashKaro helps users shop on e-commerce sites like Amazon, Flipkart, Myntra and others to receive cashbacks. It earns commission from the e-commerce players.
“We are making more money because we have launched new cashback categories. Initially, Indian e-commerce was about a lot of mobile, electronics but we have diversified into beauty, mobile recharges, bill payments etc. These are high margin categories,” Swati Bhargava, co-founder, CashKaro told Business Insider.
CashKaro was able to cut losses while increasing its headcount. It has gone from 78 people last year to 114 employees now.
“We have streamlined our marketing a lot more, we used to spend on channels which are paid – Google, Facebook ads. Over the last one year, we did a lot more performance campaigns,” said Bhargava.
Their campaigns were also targeted towards women and people in Tier 2 and beyond, where they see a lot of traction.
“Until last year, our ratio of men and women used to be 85:15, now it’s 65:35,” she said.