Cashrewards

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by LittleWink (talk | contribs) at 14:07, 21 January 2021 (Disambiguating links to Ali Baba (disambiguation) (link changed to Alibaba Group) using DisamAssist.). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Cashrewards
IndustryE-commerce, online coupons
Founded2014
FoundersAndrew Clarke
Lorica Clarke
HeadquartersSydney, New South Wales, Australia
ServicesCashback
Websitewww.cashrewards.com.au

Cashrewards is an Australian cashback reward program, founded in 2014. It enables users to get a portion of their cash back when making a purchase online or in-store at over 1,400 retailers.

Cashrewards is partnered with over 1,400 brands, including Amazon, Myer, David Jones, Groupon, Coles, Agoda, Lenovo, Apple, Net-A-Porter, Dan Murphy's, Alibaba, Microsoft and Booking.com. Each participating partner pays a commission to Cashrewards, which is then shared with its members as a cashback offer. In the first five years the company has been operating, Cashrewards has generated A$2 billion in revenue for its partners, and A$100 million as cashback to its members.

In addition to offering cashback, Cashrewards also features a selection of discount coupons and exclusive deal codes.

History

Cashrewards was founded in 2014 by Andrew and Lorica Clarke after their child developed and survived a serious illness. Seeking a way to give back to those who supported them during this time, they set up Cashrewards to help Australians save on their shopping while also contributing to charitable organisations.[1]

In 2017, Cashrewards joined the Salesforce charity initiative Pledge 1%, where one percent of the company's equity and one percent of cashback rewards are donated to a selected charity.[2][3] Founders Andrew & Lorica chose the Starlight Children’s Foundation due to the support this organisation provided to their child while battling illness.[4]

In 2018, Cashrewards launched its In-Store Offers platform. Partnering with Visa, the platform allows members with a Visa credit card or debit card to earn cashback at hundreds of stores throughout Australia.[5]

In 2019, Cashrewards founder Andrew Clarke stated that the company seeks to achieve an initial public offering (IPO) by 2020.[6][7] October 2019 also saw Cashrewards expand its In-Store Offers platform by partnering with Mastercard, allowing members using this payment card provider to access cashback benefits from participating retailers.

Funding

In 2018, Cashrewards secured A$3 million in capital from Silicon Valley-based Partners for Growth (PFG) through a tailored debt funding facility.[8]

In 2019, it acquired an additional A$5.25 million external equity funding round from Sydney-based Alium Capital.[9]

Awards and accolades

Year Category Institution or publication Result Notes Ref.
2016 Finalist: Best Fintech Startup StartCon Nominated Australasian Startup Awards 2016 [10]
2016 Deloitte Tech Fast 50 Awards Australia Deloitte Won Deloitte Technology Fast 500 2016 [11]
2017 Finalist: E-commerce Company of the Year StartCon Nominated Australasian Startup Awards 2017 [12]
2017 Finalist: NSW Region Telstra Nominated Telstra Business Awards 2017 [13]
2017 Finalist: Eastern Region Ernst & Young (EY) Nominated Ernst & Young Entrepreneur Of The Year Award 2017 [14]
2017 Smart50 List (4th Place) SmartCompany Won Smart50 Awards 2017 [15]
2017 Finalist: Corporate Social Responsibility Program of the Year Optus & MyBusiness Nominated Optus My Business Awards 2017 [16]
2017 Media, Marketing and Advertising Business of the Year Optus & MyBusiness Won Optus My Business Awards 2017 [17]
2017 Finalist: Deloitte Tech Fast 50 Awards Australia Deloitte Nominated Deloitte Technology Fast 500 2017 [18]
2017 Businesses of Tomorrow Award Westpac Won Westpac Businesses of Tomorrow 2017 [19]
2018 Fast 100 List (6th Place) The Australian Financial Review Won Financial Review Fast 100 2018 [20]
2018 Nora Best Loyalty Marketing Nora Won Nora Solution Partner Awards [21]

References

  1. ^ Bowen, Nigel. "Generating Business Ideas: A Masterclass" (PDF). Content Sherpa. Retrieved July 11, 2019.
  2. ^ "Pledge 1%". Salesforce.org. Retrieved July 11, 2019.
  3. ^ "We've Pledged 1%". Pledge 1%. Retrieved July 11, 2019.
  4. ^ "Cashrewards: Rewarding Happiness for Starlight and SIck Kids". Starlight Children's Foundation. Retrieved July 11, 2019.
  5. ^ "Cashrewards Teams Up with Visa to Launch New In-Store Cashback Program" (Press release). October 16, 2018. Retrieved July 11, 2019.
  6. ^ Smith, Paul (June 3, 2019). Stutchbury, Michael (ed.). "Online retailer Cashrewards banks Silicon Valley backing as market picks up pace". The Australian Financial Review. Nine Publishing. Retrieved July 11, 2019.
  7. ^ Blake, Dean (June 4, 2019). McIlvaine, Heather (ed.). "Cashrewards raises $5.25m, eyes IPO". InternetRetailing.com.au. Octomedia. Retrieved July 11, 2019.
  8. ^ Smith, Paul (April 23, 2018). Stutchbury, Michael (ed.). "Online retailer Cashrewards banks Silicon Valley backing as market picks up pace". The Australian Financial Review. Nine Publishing. Retrieved July 11, 2019.
  9. ^ Palmer-Derrien, Stephanie (June 4, 2019). Keating, Eloise (ed.). "Sydney startup Cashrewards raises $5.2 million as it gears up for 2020 IPO". SmartCompany. Retrieved July 11, 2019.
  10. ^ Mack, Cheryl. "Over 3100 attendees gathered in Sydney for StartCon and the Australasian Startup Awards 2016". StartCon. Retrieved July 11, 2019.
  11. ^ Bowen, Nigel. "Technology Fast 50 2017 Winners' Report" (PDF). Deloitte. Retrieved July 11, 2019.
  12. ^ Mack, Cheryl. "Winners of the 2017 Annual Australasian Startup Awards". StartCon. Retrieved July 11, 2019.
  13. ^ Beeck, Jessica (April 29, 2018). "Online Retail Space is Heating Up: Aussie Cash Back Site Cashrewards Heralds New Era" (Press release). Business Wire. Bastion Effect. Retrieved 2019-07-11.
  14. ^ Kent, Melanie (July 5, 2017). "EY Entrepreneur Of The Year™ regional finalists revealed". Ernst & Young. Retrieved July 11, 2019.
  15. ^ "Smart50 Awards 2017: Cashrewards". SmartCompany. Retrieved July 11, 2019.
  16. ^ Zuchetti, Adam (November 11, 2017). "Optus My Business Awards 2017 winners revealed". MyBusiness. Momentum Media. Retrieved July 11, 2019.
  17. ^ "2017 Winners". MyBusiness. Retrieved July 11, 2019.
  18. ^ "Technology Fast 50 2017 Winners' Report" (PDF). Deloitte. Retrieved July 11, 2019.
  19. ^ "Meet the 2017 Businesses of Tomorrow". MyBusiness. Retrieved July 11, 2019.
  20. ^ Bailey, Michael (October 31, 2018). Stutchbury, Michael (ed.). "Fast 100: Next Business Energy tops future-facing list". The Australian Financial Review. Nine Publishing. Retrieved July 11, 2019.
  21. ^ https://internetretailing.com.au/solution-providers-recognised-inaugural-industry-awards/. {{cite web}}: Missing or empty |title= (help)

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Cashrewards&oldid=1001817598"