Cardback

Cardback
Type Private
Founded February 2013
Headquarters New Delhi, India
Area served India
Founder(s) Nidhi Gurnani Nikhil Wason
Industry Internet
Parent Orangut Labs Pvt. Ltd.
Website cardback.in
Launched October 2014
Current status Online

Cardback is a payment recommendation platform that helps credit, debit, prepaid cardholders and mobile wallet users see their best way to pay for transactions at restaurants, cafes, retail shopping outlets, spas, hotels, airports, petrol pumps, movie theaters, and e-commerce websites. Recommendations are based on card and wallet offers, features and reward points.[1]

This service is currently available in six cities in India - Delhi-NCR, Mumbai, Bangalore, Pune, Chennai and Hyderabad.[2]

History

Cardback was founded by Nidhi Gurnani and Nikhil Wason in 2013 in New Delhi, India under the parent company Orangut Labs Pvt. Ltd. The beta version of the mobile app was launched in Sep 2013 on Android; the full version was launched in October 2014 on iOS, Windows and Android.

Funding

Cardback received its first round of investment from The Morpheus in February 2013. In July 2014, they raised Rs. 1 crore ($170,000) via LetsVenture. Rajan Anandan, Sunil Kalra, Rishi Srivastava led the round along with Alok Mittal.[3][4]

Features

Cardback supports more than 600 credit and debit cards across 10 banks[5] and 3 wallets.[2] Users do not need to provide their card numbers to register their cards and wallets.[6]

Recognition

Cardback was recognized as one of the Emerge50 companies by NASSCOM for the year 2014-15,[7][8] and was also a part of the first batch of FbStart program for startups by Facebook.[9][10][11]

Media coverage

Various media houses and tech blogs have covered Cardback since its inception. These include The Economic Times,[12] NDTV,[5] Gizmodo,[13] MediaNama,[4] Windows Central[14] and Lighthouse Insights.[15]

References

  1. ↑ Babu, Anita (August 12, 2015). "Facebook spends $20 mn worth benefits to groom Indian app developers through FbStart". Business Standard.
  2. 1 2 Karmarkar, Atul (May 18, 2015). "Cardback – for the best credit card and wallet offers". AtulKarmarkar.com.
  3. ↑ Peer, Nikita (June 27, 2014). "Bank card scheme notifications venture Cardback raises $170K through LetsVenture". Vccircle.
  4. 1 2 K, Brindaalakshmi (July 1, 2014). "Funding Roundup: Cardback, Greytip, Capital Float and Roposo". Medianama.
  5. 1 2 Rafae, Mir (April 3, 2015). "Cardback App Review: Make Your Money Work for You". NDTV Gadgets.
  6. ↑ Rafae, Mir (June 11, 2015). "SmartPocket App Review: A Smarter Alternative to Loyalty Cards". NDTV Gadgets.
  7. ↑ "NASSCOM Emerge 50 2014 Awards Announced". NASSCOM Product Connect.
  8. ↑ Vibhor (June 3, 2015). "Make More Informed Decisions about Use of Credit, Debit and Loyalty Cards". NASSCOM Product Connect.
  9. ↑ Huang, Michael B. (August 11, 2015). "FbStart Highlights Success Stories from Developers in Asia Pacific". Developers.facebook.com.
  10. ↑ "Facebook gives benefits worth $20 million to Indian developers". The Economic Times. August 11, 2015.
  11. ↑ Sharma, Sriram (August 11, 2015). "Facebook's FbStart Gives Benefits of Over $20 Million to Indian Developers". NDTV Gadgets.
  12. ↑ Lavakare, Jyoti Pande (Oct 5, 2014). "Cardback: Orangut Labs' app helps users decide which card to pay from to get maximum benefits". The Economic Times.
  13. ↑ Baxi, Abhishek (Feb 9, 2015). "Maximize Your Savings And Card Benefits With The Cardback App". Gizmodo.
  14. ↑ Baxi, Abhishek (October 22, 2014). "Cardback for Windows Phone helps users in India maximize credit card benefits". Windows Central.
  15. ↑ Naidu, Prasant (July 10, 2014). "Cardback Raises $170K, Tribune Digital Venture Acquires What’s On, And More". Lighthouse Insights.

External links

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