CashKaro’s FY25 Revenue Jumps To INR 350 Cr

Coupons and cashback platform CashKaro’s operating revenue jumped 15.9% to INR 350 Cr in the financial year 2024-25 (FY25) from INR 302 Cr in the previous fiscal year.

Speaking with Inc42, cofounder Swati Bhargava attributed the jump in revenue to the healthy traction seen by its finance category, a growing network of 1,500 partner brands and over 36 Mn transactions during the fiscal. 

The top line, however, fell short of the company’s internal target of INR 400 Cr for the year.

Meanwhile, the company claimed to have reported an EBITDA loss of INR 21.6 Cr during the year under review against an “under INR 20 Cr” net loss in FY24.

In line with this, CashKaro also managed to keep its marketing costs flat while trimming employee expenses by 11% YoY in FY25. 

Founded in 2013 by Bhargava and Rohan Bhargava, CashKaro offers coupons and discounts. It also allows users to earn cashbacks and rewards for shopping on its 1,500 partner brands, including Nykaa, Amazon, Flipkart, Tata 1mg and Myntra.

Since its inception, the Gurugram-based company has raised about INR 250 Cr from investors such as Affle Global, Kalaari Capital and Korean Investment Partners, among others.

Bhargava told Inc42 that CashKaro’s user base stands at around 27 Mn currently. The startup primarily earns revenue from the commission that it receives from its brand partners for displaying their products or services on the site. 

She added that the platform earns 25% of its revenue from the electronics and smartphone category while fashion and finance segments contributed 22% and 23%, respectively. Beauty added 15% to the total revenue tally while grocery, medicine, travel, home and kitchen as well as online subscriptions accounted for the rest. 

CashKaro’s FY26 Outlook

Forecasting the startup’s revenue for FY26, Bhargava said, “We are looking to clock INR 470 Cr to INR 500 Cr in revenues this fiscal year (FY26) while also reducing losses”.

The company aims to achieve this top line jump by focussing on “horizontal and vertical growth”. Elaborating on this, Bhargava said that CashKaro, on the horizontal front, would focus on increasing the number of users, while vertical growth would be reflected from its categories and stores.

As part of this, the company has expanded the scope of its partnerships to brands such as Samsung, BoAt, Noise directly to boost margins. It is pertinent to note that, so far, it has worked only with ecommerce platforms like Flipkart and Amazon.