Swati Bhargava is the CEO and Co-founding father of Cashback & Coupons website, Cashkaro.Com. Cashback is a totally popular idea inside the West & Cashkaro.Com is pioneering the equal in India. Its the only Cashback web site in India that has efficaciously raised outside investment of $750,000.
Swati had labored at Goldman Sachs London in Investment Banking for five years before starting UK Cashback commercial enterprise Pouring Pounds with her husband Rohan. After UK’s achievement they accelerated to India as Cashkaro.Com. Ever when you consider that its launch in India, remaining 12 months, Cashkaro has managed to get 2.Five lakh participants from across the u . S . A ., had clock greater than 1000 transactions across manufacturers and classes and feature driven over Rs. 25 Cr of income to ecommerce partners.
We caught up with Swati Bhargava, for a fast chat to understand the reasons behind its launch in India, challenges confronted and enlargement plans of the enterprise in India.
Inc42: From launching Pouring Pounds to bringing Cashkaro in India, how has been standard adventure as an entrepreneur? What made you launch Cashkaro in India, is it the marketplace possibility? Do you think India is a hot marketplace for cashback and coupon web sites?
Swati: It’s been a super adventure and we are finishing a 12 months of operations soon! Rohan and I are happy we began off on our very own. We every picked up and learnt important factors from our backgrounds and culminated it into beginning Pouring Pounds (launched 2011) inside the UK that's the figure organisation for Cashkaro.
Yes, India is a outstanding market for us. Cashback web sites have carried out virtually properly inside the West so that served as a incredible instance for our assignment in India. In reality, India being a larger market basic and a populace of individuals who are possibly extra price conscious manner that the scope for boom here is even greater. Also every day deal websites simplest provided savings on bespoke reports, massages, eating places etc. But now not regular financial savings so Cashback was a high-quality version to get into. Cashback facilitates:
a) An powerful and high ROI manner of using income to ecommerce sites
b) incentivising human beings to save online with the aid of manner of discounts & savings.
The version has been tried and examined. When you apply this to the Indian market, the opportunity is large, supported by way of the reality that we in India love savings! We price cash and why won’t we want to save cash while it's so without problems viable.
Inc42: How has been the traction on the platform considering that in its release within the united states of america? What’s the Month on Month growth fee?
Swati: It’s been great and nowadays www.Cashkaro.Com is the No. 1 cashback and coupons website online within the us of a. We already have over 2.Five lakh contributors from throughout the us of a in only a 12 months of operations. We clock extra than a thousand transactions across brands and categories. So some distance, through Cashkaro, we have driven over Rs. 25 Cr of sales to ecommerce partners and growing!
Inc42: Please share about the customer demographics.
Swati: All online shoppers are our primary target – this regularly includes on line savvy human beings in age-organization 18-35 years and many students who store money on recharge, books, and pizzas to young professionals, mothers and common guests. Our contributors in large part come from Delhi, Bangalore, Hyderabad, Mumbai, Pune, Chennai, Kolkata and an increasing variety from Tier 2 and Tier 3 cities like Jaipur, Chandigarh, Bhopal and Lucknow. We also are looking to teach folks who don’t shop online about the advantages of doing so.
Inc42: As there are other systems working in the identical area, how could you differentiate Cashkaro from them? What are the elements which make you stand-out from them?
Swati: Yes, there are few others inside the space, however we are the pioneers. We are the first to cross the Rs 1.Five Cr mark in cashback paid to members and that too inside simply an yr. What offers Cashkaro an area over Coupon-best sites is the added “Cashback” detail that our member can earn. Shoppers no longer best come to our website for Myntra coupons, Jabong coupons they love the reality that Cashkaro offers them extra Cashback on pinnacle! This makes the financial savings from Cashkaro greater than double compared to Coupon-most effective web sites as now participants can get each Cashback and coupons in a single area. We consider that once you keep through Cashkaro you'll nearly never save at a coupon web page again.
Also, Cashkaro stands out because of many reasons. I even have indexed a number of them beneath:
1) We have direct and first rate relationships with a lot of our store companions which facilitates us pay better Cashback to our members in comparison to different web sites
2) We are simply No.1 in the Cashback area – Within the first yr of release itself we already get the highest visitors across all websites, drive the most Sales & have paid the highest Cashbacks to members
three) We have a huge crew of 30 humans which ensures all our various verticals are properly-controlled and customer support is prompt. If any of our members have Cashback problems or queries we have a dedicated team to resolve those, in reality we are known to provide outstanding customer service. Many of the alternative web sites are frequently run with the aid of a great deal smaller groups who are not capable of offer the equal degree of guide & attention to individuals.
Four) Our era is all constructed in-residence and we have a extraordinary & experienced crew with CTO having over 14 years of revel in. This allows us to constantly maintain coming up with new improvements and merchandise to feature extra features on Cashkaro.
Inc42: As of now what number of traders/web sites are indexed at the platform?
Swati: We began with around one hundred e-retailers and feature grown due to the fact then. Today, we associate with 500+ online retailers, such as leading brands along with Amazon, Flipkart, Myntra, Paytm, Yatra.Com and many others. We are in talks with potential e-stores all the time.
Inc42: What’s your monetisation version?
Swati: It’s easy. We receives a commission fee for each sale from our store companions like Myntra, Jabong and we pass Cashback from that. The stability we preserve after passing Cashback is our income.
Inc42: What had been the predominant challenges you confronted in launching the platform inside the us of a and what are the present day demanding situations in going for walks it up?
Swati: When we began out, most effective coupon web sites existed in India. We had to ensure that our concept was understood by means of ability partnering e-retailers first, and best then may want to we communicate to customers. Building partnerships with e-retailers took us more or less 6 months earlier than we commenced out. We took dangers and worked with third events and builders who throughout-promised and under-delivered. We additionally had to put in strategies that ensured stores paid commission on time and play honest, in order that our clients get paid on time.
Hiring excellent skills changed into a task – both locating desirable expertise and retaining them in case you are just starting out and revenues take time to come back.
Lack of seed investment in India – traders want to place money in once you begin being profitable however that’s whilst you may no longer even need it! We raised cash in the UK so rather had been in a position to triumph over this issue.
But nowadays, we understand that those learnings have paid off well and helped us grow client and partner base.
Inc42: Last yr, Cashkaro raised a funding spherical, how did you utilized it? When are you planning to raise subsequent spherical of investment?
Swati: I gained’t be able to touch upon future rounds of funding, however yes, we're the most effective Cashback site to have obtained outside funding ($750,000), in India. With this, we were able to put money into boom and market a good deal extra aggressively. This has additionally enabled us to pay Cashback faster to our participants as we are capable of installation budget and plug gaps for operating capital as and whilst needed. This makes consumer experience at Cashkaro lots higher.
Inc42: Anything new we'd be seeing on the platform within the coming month?
Swati: Definitely, we're always in innovation mode! Apart from some interesting offers and contests that we will be walking as part of our first anniversary celebrations in April, you may assume a few trends in the coming months. We will boom attention on enlargement into worldwide markets in 2014 and a unique cell app is likewise at the anvil. However, our long time intention is to create a single platform that is the high-quality manner for anybody to store on-line, which offers convenience of fee comparison & product smart sorting and gives first-rate rate with the aid of giving Cashback & Coupons each in one vicinity.
Inc42: What are your goals for the following 12 months?
Swati: We aim to move the Rs. Five Cr mark in cashback paid to participants with the aid of cease 2015.
Inc42: How do you spot ecommerce in India will grow in the subsequent 5 years? Which classes in line with you'll lead the race?
Swati: I suppose we have been capable of solution all the doubts associated with the ecommerce businesses in India. We are a developing e-commerce marketplace and as in line with studies through IAMIA & IMRB, the variety of online buyers in India will grow 60% by 2015 to reach 39 Mn and size of the ecommerce marketplace can be at $70 Bn. These are not small numbers first of all, and could simplest grow more from right here on. We have already witnessed the fulfillment of thoughts like Cash on Delivery, and with advantages inclusive of having a big young population, growing internet penetration, boom in T2 and T3 cities, on line groups will see a upward thrust. Fashion and electronics will continue to take a large percentage of the pie as it's miles already doing. I assume there is a lot of growth to return from area of interest sectors like health and beauty, toddler care and coverage.
Inc42: Any guidelines/recommendation for the startups making plans to task in this space?
Swati: We welcome opposition and it is going to be brilliant to peer cashback being diagnosed as the big wave in on line corporations. So observe your heart, work difficult and truly trust in what you have set out to gain as a startup or an entrepreneur – due to the fact while being an entrepreneur is fun it additionally gets without a doubt difficult at instances. So you want your inner notion to keep you going!
Swati is an alumnus of London School of Economics (LSE) and graduated with an Honours in Mathematics & Economics in 2005. She become also shortlisted for the Asian Woman of Achievement Awards inside the UK.