Rohan Bhargava, co-founder of CashKaro, who helped build India's cashback and affiliate-commerce platform.
Rohan Bhargava co-founded CashKaro and built it into India’s leading cashback platform. Explore his career, funding, revenue and entrepreneurial journey.
Written by TFN Research Desk | covering startups, technology, venture capital, and business strategy.
Table of Contents
- Who is Rohan Bhargava?
- Early Life and Education
- Career Before CashKaro
- How CashKaro Started
- Funding History
- Revenue Growth and Recent Developments
- Public Recognition
- CashKaro vs Competitors
- Investor Perspective
- Founder Timeline
- Key Takeaways
- FAQs
- Sources
Who is Rohan Bhargava?
Rohan Bhargava is the co-founder of CashKaro, the Indian cashback and affiliate-commerce platform he launched with his wife, Swati Bhargava, in 2013. Before CashKaro, the couple built Pouring Pounds, a cashback and voucher business in the UK. Bhargava brought experience from international hedge funds into entrepreneurship and has since focused on product development, innovation, SEO, digital marketing and partnerships at CashKaro.
Early Life and Education
Bhargava studied Economics at the London School of Economics and is a CFA charterholder. His academic background was followed by a career in investment management before he moved into entrepreneurship.
Career Before CashKaro
Before starting his own businesses, Bhargava worked with international investment firms including Washington Square Capital and Aladdin Capital. CashKaro’s official profile says he previously managed a portfolio of approximately $1 billion in structured credit assets.
That financial background gave him experience in analysing businesses, managing capital and understanding risk. But his first entrepreneurial move took him away from hedge funds and toward a much simpler consumer proposition: helping people save money when they shop online.
How CashKaro Started
Bhargava and Swati launched Pouring Pounds in the UK in 2011 after recognising the potential of cashback and voucher businesses. The model was straightforward. Retailers paid commissions for referred customers, and part of that commission could be returned to shoppers as cashback.
After building the business in the UK, the couple saw a similar opportunity in India, where online shopping was expanding and consumers were highly price-conscious. They launched CashKaro in 2013.
The platform connects shoppers with thousands of online retailers and shares part of its affiliate earnings with users. CashKaro now lists more than 1,500 shopping sites and says it has more than 18 million registered users.
Funding History
| Round | Year | Amount | Lead Investor(s) |
| Angel | 2013 | $750,000 | Angel investors |
| Series A | 2015 | $3.8 million | Kalaari Capital |
| Series B | 2020 | $10 million | Korea Investment Partners, Kalaari Capital |
| Series C | 2022 | $15.7 million | Affle |
CashKaro has raised approximately $30.3 million across its disclosed funding rounds. Ratan Tata also invested an undisclosed amount in 2016.
Revenue Growth and Recent Developments
| Fiscal Year | Revenue | Net Loss |
| FY24 | ₹291.6 crore | Not publicly disclosed |
| FY25 | ₹344.6 crore | Not publicly disclosed |
CashKaro’s revenue increased by around 18% in FY25. Together with EarnKaro, the platform drove more than ₹6,000 crore in sales for partner brands across more than 36 million transactions. The business has increasingly positioned itself as a performance-marketing channel for retailers rather than simply a coupon website.
Public Recognition
Rohan and Swati Bhargava were included in Fortune India’s 40 Under 40 list in 2019. The recognition reflected the couple’s work in building CashKaro after establishing their first cashback business in the UK.
CashKaro vs Competitors
| Company | Founded | Positioning |
| CashKaro | 2013 | Cashback and affiliate commerce |
| GoPaisa | 2012 | Cashback and coupons |
| CouponDunia | 2011 | Coupons and cashback |
| EarnKaro | 2018 | Social commerce and affiliate earnings |
CashKaro’s differentiation comes from combining cashback, coupons and affiliate commerce at scale. Its EarnKaro business extends that model by allowing individuals to generate affiliate links and earn from purchases made through them.
Investor Perspective
Bhargava’s advantage is that he did not enter cashback commerce without experience. He and Swati had already tested the model in the UK before bringing it to India. That reduced some of the uncertainty around whether retailers would pay for performance-based customer acquisition.
The business also benefits from a model where retailers fund commissions rather than CashKaro simply subsidising discounts. But affiliate commerce remains dependent on consumer purchasing behaviour, retailer relationships and changes in digital advertising economics.
CashKaro’s FY25 revenue growth and ₹6,000 crore in partner sales show meaningful scale. The next challenge is maintaining that growth while expanding beyond traditional cashback into broader commerce and financial services.
Founder Timeline
- Early career: Works with Washington Square Capital and Aladdin Capital.
- 2011: Co-founds Pouring Pounds with Swati Bhargava in the UK.
- 2013: Launches CashKaro in India.
- 2015: Raises Series A funding from Kalaari Capital.
- 2016: Ratan Tata invests in CashKaro.
- 2020: Raises $10 million Series B funding.
- 2022: Raises $15.7 million Series C led by Affle.
- 2019: Rohan and Swati Bhargava are recognised in Fortune India’s 40 Under 40.
- 2025: CashKaro reports approximately ₹345 crore in revenue.
Key Takeaways
- Rohan Bhargava moved from international hedge funds into entrepreneurship.
- He and Swati Bhargava tested their cashback model in the UK before launching CashKaro in India.
- CashKaro has raised approximately $30.3 million in disclosed funding.
- The platform generated ₹344.6 crore in FY25 revenue.
- EarnKaro has expanded the company’s affiliate-commerce model beyond traditional cashback.
FAQs
Who founded CashKaro?
Rohan Bhargava and Swati Bhargava founded CashKaro in 2013.
What is Rohan Bhargava’s current role?
He is Co-founder of CashKaro and EarnKaro, with responsibilities spanning product development, innovation, marketing and partnerships.
Where did Rohan Bhargava study?
He studied Economics at the London School of Economics and is a CFA charterholder.
What did Rohan Bhargava do before CashKaro?
He worked with international hedge funds including Aladdin Capital and Washington Square Capital.
How much funding has CashKaro raised?
CashKaro has raised approximately $30.3 million across its disclosed funding rounds.
Who are CashKaro’s key investors?
Its investors include Kalaari Capital, Korea Investment Partners, Affle and Ratan Tata.
What is EarnKaro?
EarnKaro is CashKaro’s social-commerce platform that allows users to generate affiliate links and earn commissions from purchases.
Is CashKaro profitable?
Its current profitability is not publicly disclosed in the sources reviewed for this profile.
What is Rohan Bhargava’s net worth?
His current personal net worth is not reliably publicly disclosed.
Sources
CashKaro, About Us
https://cashkaro.com/about-us
CashKaro, Company Information
https://cashkaro.com/
Fortune India, Rohan and Swati Bhargava
https://www.fortuneindia.com/people/rohan-bhargava-swati-bhargava
YourStory, Rohan Bhargava Profile
https://yourstory.com/author/rohan-bhargava
Economic Times, Ratan Tata Investment in CashKaro
https://economictimes.indiatimes.com/
Inc42, CashKaro Funding and Financials
https://inc42.com/company/cashkaro/
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