Speaking exclusively to IndianMediaBook, about CashKaro’s investment plans, Swati Bhargava Co-Founders CashKaro said, “We are using the funds to increase brand awareness of CashKaro and let people know about this cool new way of saving money. We are also investing in developing our technology features more for price comparison and product discovery which will make CashKaro – the one stop destination for online savings.”
Investment plans
Raising funds is considered as one of the tough task, especially for start-ups. But CashKaro has been very lucky in terms of fund raising. In 2013, it has raised $ 750,000 in angel funding from a group of investors based in London who belong to companies such as Paypal, Investec, Goldman Sachs etc.
According to Rohan Bhargava, Co-Founder, CashKaro, consolidation in the e-commerce sector is inevitable. Thus, CashKaro will look into acquisition if the right product comes in-front and helps to improve user experience and adds value to the platform.
Shedding the light on CashKaro’s expansion plans, Bhargava said, “Part of the funds will also be used for our international expansion to South East Asia, launching our mobile app and hiring some more awesome people in our team.”
Delhi NCR, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata are the strongest markets followed by Tier 2 cities such as Pune, Ahmedabad, Jaipur, Chandigarh, Indore and Lucknow. Given the traffic increase per cent month-on-month the venture is all set to enhance its reach in Tier 2 cities.
Marketing strategies
CashKaro has done campaigns on radio and currently its focus is digital as it helps to target audience to the narrowest filter and its performance can be measured real time. Bhargava believes that online video advertising ups the chances of getting the campaign to go viral reaching more people and creating buzz faster than traditional advertising.
“We are investing in video marketing as number of people consuming video content in a social environment (YouTube and Facebook) is increasing day-on-day and it has become critical for brand like ours to tell our story by going beyond a typical 30 seconder TVC, concluded Bhargava.
