In a statement, the platform also claimed that it trimmed its EBITDA loss by 40% to ₹17.7 Cr in the fiscal under review as against ₹29.2 Cr in FY25
The company attributed the financial performance to strong revenue expansion, healthy operating leverage, a tight leash on expenses, improved customer acquisition and stronger conversion rates
Founded in 2013, CashKaro allows users to earn cashbacks and rewards for shopping on its 1,500 partner brands. Its also operates EarnKaro, an affiliated marketing platform
Coupons and cashback platform CashKaro has claimed that its operating revenue zoomed 72% to ₹600 Cr in the fiscal year 2025-26 (FY26) compared to ₹348 Cr in the year ago fiscal.
In a statement, the platform also claimed that it trimmed its EBITDA loss by 40% to ₹17.7 Cr in the fiscal under review as against ₹29.2 Cr in FY25.
The company attributed the financial performance to strong revenue expansion, healthy operating leverage, a tight leash on expenses, improved customer acquisition and stronger conversion rates.
Reining in its promotional expenses, the Delhi NCR-based startup also said that marketing expenditure for CashKaro and EarnKaro rose a mere 7.6% YoY in FY26. On the other hand, it also claimed that employee and infrastructure costs “remained stable” due to investments in AI and automation, which enhanced productivity.
“This year, we grew our revenues by 72% while reducing losses by almost half. By design, we are unit economics positive on every transaction and a business that has significant network effects at play. Cashback is a billion-dollar business in the US, China and Europe — and CashKaro is set to surpass them all, especially with our suite of India-centric products like EarnKaro,” said CashKaro and EarnKaro cofounder Swati Bhargava.
Founded in 2013 by Swati and Rohan Bhargava, CashKaro offers coupons and discounts to its customers. It allows users to earn cashbacks and rewards for shopping on its 1,500 partner brands, including Nykaa, Amazon, Flipkart, Tata 1mg and Myntra. It claimed to have so far facilitated ₹10,000 Cr worth sales to its brand partners and more than ₹2,000 Cr in cashback to users.
Backed by notable investors including late Ratan Tata, Affle Global, Kalaari Capital and Korean Investment Partners, CashKaro has raised more than ₹250 Cr in funding to date.
CashKaro earns revenue by receiving commissions from brand partners on every sale driven via its platform. Meanwhile, EarnKaro is the company’s affiliated marketing platform that enables users to earn money by sharing product deals from brand partners.
CashKaro is eyeing profitability in the future by betting on strong consumer traction and continued investments in AI, the company added.
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