CashKaro Revenue Surges 72% to ₹600 Cr in FY26

Coupons and cashback platform CashKaro has reported a significant 72% year-on-year surge in its operating revenue, reaching ₹600 Cr in the fiscal year 2025-26 (FY26). This marks a substantial increase from the ₹348 Cr reported in the preceding fiscal year.

The company also announced a 40% reduction in its EBITDA loss, which narrowed to ₹17.7 Cr in FY26, down from ₹29.2 Cr in FY25. This improved financial performance is attributed to robust revenue expansion, healthy operating leverage, stringent expense management, enhanced customer acquisition strategies, and higher conversion rates.

CashKaro highlighted that its marketing expenditure for both CashKaro and its affiliated marketing platform, EarnKaro, saw a modest 7.6% year-on-year increase in FY26. Investments in artificial intelligence and automation have reportedly stabilized employee and infrastructure costs while boosting 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,” stated Swati Bhargava, cofounder of CashKaro and EarnKaro. “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.”

Founded in 2013 by Swati and Rohan Bhargava, CashKaro partners with over 1,500 brands, including major e-commerce players like Amazon, Flipkart, Nykaa, Tata 1mg, and Myntra, offering coupons and cashbacks to consumers. The platform claims to have facilitated ₹10,000 Cr in sales for its brand partners and distributed over ₹2,000 Cr in cashback to users.

The company, which has raised more than ₹250 Cr in funding from investors such as the late Ratan Tata, Affle Global, Kalaari Capital, and Korean Investment Partners, generates revenue through commissions from brand partners for sales driven via its platform. EarnKaro enables users to monetize by sharing product deals.

CashKaro is focused on achieving future profitability through sustained consumer engagement and continued investment in AI technologies.