CashKaro.com Bags Ratan Tata's Investment, His 3rd for 2016
BANGALORE: Recognizing the high potential of the growing startups in India investors from across the world are pouring in money into the sector and this doesn’t leaves out the former chairman at Tata Group, Ratan Tata. Since 2014, the business magnate has a growing interest for investment in the startup landscape.
He, recently, chose CashKaro.com, an online venture for cash-back and coupons for investment. The amount of the investment is still unknown, reports ET.
Just two months back that the startup raised 25 Cr from Kalaari Capital. He also joined Vani Kola’s VC firm last year as an advisor for guiding portfolio companies.
Post investment the online cash-back and coupon startup, CashKaro.com is looking forward to enhance technology, make an international presence, increase brand awareness and recruit top-level talent.
"We're launching our cash-back site in Singapore over the next three months, and will also look to enter other markets in South-East Asia. We will also be launching our app in the next two quarters," Bhargava, an ex-Goldman Sachs employee.
This deal marks Ratan Tata’s third investment in 2016 after placing bet on Tracxn Technologies and DogSpot.
CashKaro is an online platform where ecommerce is made more attractive to customers offering them discounts, cash-back and coupons. Presently, this venture has 1,000 online retailers working with it and has over 10 lakh registered users.
The startup claims to have 250,000-300,000 transactions every month where average ticket size is between $30 and $40.
As per the co-founder at CashKaro.com, the company is targeting to reach 1,000 Cr in sales in the coming few months. Post quitting his chairmanship at Tata Group, Ratan Tata has lately emerged as one of the most active investors in the startup sector.
"He (Tata) has the experience of building and scaling businesses across geographies. We're hoping he will share his insights on customer branding, loyalty, retention and expansion with us," Bhargava said.