13th August 2025 | India: CashKaro, India’s largest cashback and savings platform, has reported a strong ₹350 crore in revenue for FY25, powered by ₹6,000 crore in sales driven to its 1,500+ partner brands and over 36 million transactions.
At a time when digital customer acquisition costs are soaring via traditional platforms like Google and Meta, the CashKaro & EarnKaro ecosystem has emerged as one of India’s most cost-effective, scalable, and performance-driven growth engines, offering both brands and users tangible, lasting value.
Together with its sister platform EarnKaro, CashKaro delivered 2.5 billion traffic clicks to partner brands this year. With over ₹1,000 crore paid out so far as real cash to users’ bank accounts, the group has cemented its leadership in transparent, value-driven affiliate marketing.
“At CashKaro, we sit at the intersection of two key stakeholders, partner brands and customers. For brands, the rising cost of customer acquisition via platforms like Google and Meta has made performance-driven, ROI-positive channels like ours more valuable than ever. This year, we drove over ₹6,000 crore in sales and 2.5 billion in traffic to our partners – a milestone that reflects the growing shift toward affiliate-led growth in India,” said Swati Bhargava, Co-founder, CashKaro & EarnKaro.
“On the consumer side, the demand for real rewards – not coins, points, or vouchers – is stronger than ever. The ₹1,000 crore we’ve paid out in direct cash back to users’ bank accounts is proof that India loves cashback, especially when it’s in real cash. Just as affiliate marketing has transformed commerce globally, we believe CashKaro is poised to cross the $1 billion GMV mark this year, further cementing our leadership in this space.”
While CashKaro leads in cashback-led savings, EarnKaro has become a force of virality and income generation. With 4 million+ registered users from students and homemakers to Telegram influencers and content creators, EarnKaro has empowered thousands to earn income with zero investment. They make their affiliate links via EarnKaro for ecommerce brands, and earn commissions whenever people shop via their links. Driving massive traffic and transactions at a fraction of the cost compared to traditional ad platforms, these influencers are the new growth channel for ecommerce.
“One of the most fulfilling parts of being an entrepreneur is seeing the real impact your work creates. With EarnKaro, that impact is deeply personal and deeply transformative. We’ve seen users go from earning ₹3,000 a month to ₹3 lakhs and even ₹30 lakhs. This kind of income generation doesn’t just change lives, it builds India,” said Rohan Bhargava, Co-founder, CashKaro & EarnKaro.
“What makes EarnKaro truly special is its ability to create scale and virality, something brands value immensely. As we look ahead, our goal is to empower over a million entrepreneurs in the coming years and continue unlocking economic opportunity at scale.”
EarnKaro now holds 85% market share on Telegram in affiliate commerce, and top users are earning up to ₹50 lakhs per month. Its proprietary plug-and-play affiliate tools and Telegram sharing automations & integrations are now a case study in how community commerce and influencer utility can power high-intent, low-CAC transactions across India’s vast digital Bharat.
Despite its scale, CashKaro remains lean and disciplined. While the company reported a modest ₹21.6 crore EBITDA deficit, this was offset by strong operating efficiency. People costs rose by only ₹4 crore YoY (11%), and marketing spends remained flat even as revenue grew, a key marker of virality-led growth and user retention. Backend investments were focused on long-term levers like tech automation, AI-led tracking systems and LTV optimizations.
“Every rupee we spend is designed to deliver compounding value. This is no longer the high-burn phase, it’s the build-to-last phase,”said Rohan Bhargava.
CashKaro’s growth is tightly aligned with India’s booming e-commerce and digital financial services sectors. Categories like fashion & beauty D2C brands, credit cards, and banking productshave emerged as powerful growth verticals. The company has also expanded into new categories like loans, with a robust pipeline of integrations underway.
Beyond numbers, CashKaro is reshaping the rewards landscape. In an industry flooded with confusing coins, expiry-prone vouchers, and gamified points, the brand’s viral #CoinsVsCashback
CashKaro is also amplifying stories of real impact through content-led initiatives like The BAD Podcast (Be A Dreamer) sharing how EarnKaro users are transforming into micro-entrepreneurs and primary earners for their households.
“These aren’t just users. They’re digital micropreneurs, building real income, agency, and self-belief one share at a time,” said Swati Bhargava.