CashCry

CashCry: This startup of Allahabad gives you ‘real money’ on online shopping

25-year-old Bhanu Pratap Singh of Allahabad and 27-year-old Harshit Singh felt that only to give a coin or reward for users is not enough and this was the reason that this cashback startup was launched. The purpose of the startup is to give back the cash that can be transferred to the user’s bank account.

Co-founder and CEO Bhanu Pratap Singh say that the aim of CashCry is to organize the vast retail area of ​​India in a digital realm where the customer can get any product or service with his will, as well as additional discount on all his purchases and can get real cashback.

They say, “Apart from this, we always want to provide Best Deals to the conscious Indian consumer, which always do online shopping.”

CashCry is built on this model that there are major decisive factors for a buyer, Deals, Quality, and options and it is moving forward by stepping with fast-moving online shopping industry.

How CashCry Started

Startup was launched under the original company BroadBay Technovative Solutions in 2019, the final product has been live in April 2021.

In 2018, Bhanu felt that more and more people were buying online things and to get cash benefits “were continuously looking for best deals, cheap options and referrals”. Bhanu was convinced about the development of online shopping and it motivated him to create a platform which can make online shopping easier and can help consumers to get direct benefits.

A CashCry got a kickstart when Bhanu met Indraseen Singh, where he was preparing for a finance course, which later became the early investor and patron of cashic. His son joined him as co-founder.

This idea also got support from IIM Kashipur for three months. With the initial capital of Rs 5 lakh from friends and family, Harshit and Bhanu have formally launched CashCry in the middle of 2019.

In its early days the platform was only focused on cashback, which was provided from the referral fee to the company from the ecommerce platform. But soon both of them combined with more facilities and tool platforms, such as comparison of prices, offline retailers, gift cards etc., so that it is “Central for Online Shopping from Amazon, Flipkart, Ajio, Fab India, Maternity and Similar sites Location “can be made.

Now there are more than 150 offline retailers partners like Bata, Javed Habib, and others of Cashicai, such as where customers get concessional deals.

How does this work? Open the CashCry App and go to your favorite site Flipkart, Amazon, etc. and make a shopping as usual. CashCry is paid a referral fee from these websites and it gives this amount to users in the form of cashback.

Meanwhile, Harshit decided to pursue his studies and he studied MBA and got a job. Bhanu is now working full-time on this enterprise. Co-founders chose their home town Allahabad as its headquarters to promote the entrepreneurship ecosystem in a small town.

Business Model of CashCry

CashCry earns from affilite Marketing. This is a percentage of the referral fee which gives the amount in the form of cashback, which earns from the Startup Amazon and Flipkart from the ecommerce platform. Bhanu says that 90 percent of the company transfer 90 percent of the buyer and holds the balance to invest in business operations.

CashCry claims that it has completed a total gross business value (GMV) of more than Rs 3 crore, in which the total traying is 18,000. Founder claims that the app has been downloaded more than 12,000 times in India.

Bhanu says, “We have given about 8 lakh rupees in the form of cashback.”

CashCry has so far recorded revenue of 12 lakh rupees and till next year the figure is aims to increase manifold.

Market and the competition for CashCry

According to a report from the Mobile Marketing Association (MMA) India and Media Agency GroupM India, up to 20 million Indian online shopping, because the Internet has reached a large part of the country’s population. It has been said in the report that the number of Indian Internet users will be increased from 622 million to 900 million till 2025. With affordable data prices, the consumer is increasingly digital, and the online retail market is ready to expand three times in the next four to five years.

Bhanu says that CashCry is optimistic about this market and “opportunity is bigger than it”. CashCry is from the players like Cashkaro, Coupon, Nirabai and Money. Cashback and Reward Startup Happy Credit, located in Bengaluru, which runs an app-based cashback system, gives users the reward on their ecommerce shopping on more than 50 merchant platforms.

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Shubham

I am Shubham writer at startupcrow. I am from Bihar, have done electrical engineering by profession. Highly enthusiastic about startup and gaming Industries. Love to do travelling. View all posts by Shubham

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