Indian cashback company CashKaro.com is expanding its base to a third market, Singapore, with ZoBucks.com.sg. CashKaro.com is backed by Ratan Tata and Kalaari Capital.
Owned by entrepreneur couple Swati and Rohan Bhargava, ZoBucks is the third arm of Pouring Pounds. The company will now operate in three markets with the other two being PouringPounds.com in the UK and CashKaro.com in India.
To create a definite impact, ZoBucks has already partnered with over 250 retailers in Singapore across industries such as travel, fashion, electronics, grocery and more. This will give ZoBucks users unique benefits when shopping on sites such as Expedia, Accor, Booking.com, ASOS, Zalora, Lazada, Crocs, Redmart, Mothercare and more. This one simple step will help them earn extra cashback from ZoBucks in addition to all existing discounts and offers.
Each time a user visits a site via ZoBucks, the site pays a commission to ZoBucks. Barring a small margin that ZoBucks keeps, all of this commission is passed on to the user as cashback. In addition to its cashback service, ZoBucks will also help shoppers get the best discounts and voucher codes from multiple retailers, all on a single platform. Users can expect up to 20% cashback when shopping via ZoBucks and can transfer the money collected as cashback back to their bank or PayPal account.
Swati and Rohan Bhargava, Founders, CashKaro.com, said, â€śWe are excited to bite into Singaporeâ€™s cashback Industry and the untapped potential of over five million internet users it offers. Having pioneered the cashback habit in India, we are certain ZoBucks will add immense value to the lives of Singaporeâ€™s online shoppers as well.â€ť
He added, â€śAffiliate marketing in itself is growing rapidly and South East Asia can be viewed as a young territory for the cashback industry. We chose Singapore as it is a dynamic market with a deep understanding of e-commerce. In fact, online retailers in India have variously claimed that between 15% and 20% of their total business comes from affiliate marketing and that it is the most return on investment (ROI) effective channel for them. As we have seen in mature markets like India, cashback deals have become integral to how people shop online and we believe the same shall happen in Singapore. We are confident that this expansion will give Singapore the same smile weâ€™ve spread across India using the joy of extra savings.â€ť