What PaisaWapas does

PaisaWapas is an India-based cashback and coupon aggregation platform operating at paisawapas.com and through an Android mobile application, targeting value-conscious Indian online shoppers. Founded circa 2015–2016 and headquartered in Bangalore under parent entity Nxtify Technologies, the platform aggregates promo codes, cashback offers, wallet offers, and bank discounts from over 500 partner retailers and 10,000+ products across electronics, fashion, beauty, travel, home, and baby categories. Core merchant partners include Amazon India, Flipkart, Myntra, Ajio, Reliance Digital, and MakeMyTrip. Users click through affiliate links to partner sites, earn "PW Cashback" credited to their PaisaWapas wallet, and redeem via Amazon Shopping Voucher, mobile recharge, wallet transfer, UPI, bank transfer, DTH, or gift vouchers.

The business operates on a pure affiliate/referral commission revenue model with no consumer fees, supplemented by a Gift Cards resale vertical and gamified engagement features (Spin & Win, Refer & Earn). Distribution is product-led and digital-first across web and Android app, supported by a Student Ambassador campus program, WhatsApp notifications, social media, content marketing via the PaisaWapas blog, and referral mechanics. The company has raised only one disclosed external capital event — a January 2017 angel round from Vividhity Ventures and IIT alumni — and operates with a lean 11–50 person team.

The technology stack is not publicly detailed beyond standard web and Android client architecture with Google Sign-In authentication. No proprietary APIs, SDKs, AI/ML components, patents, or regulatory certifications are disclosed. Strategic leadership rests with Founder & CEO Shankar Kotuli. As of June 2026 the platform remains operational, actively onboarding new partners (e.g., Hamaramall in November 2025, Kama Ayurveda in September 2024, multiple credit card programs through 2025–2026), but has not closed any subsequent funding round in the nine years since founding.

Name

PaisaWapas

Legal name

PaisaWapas

Website

https://paisawapas.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

PaisaWapas is a Bangalore-based cashback and coupon aggregator serving value-conscious Indian online shoppers across 500+ e-commerce partners via its website and Android app, monetizing solely through affiliate referral commissions.

Ownership category

akta.pro rank

Product category

Cashback and Coupon Aggregation

akta.pro primary industry

Price Comparison, Deals, Cashback & Loyalty Shopping Platforms (BPAMAGAH)

Keywords

• Cashback aggregation platform
• Coupon codes
• Affiliate marketing
• Online shopping deals
• Consumer savings platform

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations

Revenue model

1. Affiliate Commission: PaisaWapas earns commissions from partner retailers (Amazon, Flipkart, Myntra, etc.) when users click through their platform and make purchases. The company tracks user transactions and receives a referral fee or percentage of sales from each merchant.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

PaisaWapas is a cashback and coupon aggregation platform that consolidates coupons, promo codes, bank offers, wallet offers, and cashback deals from over 500 Indian e-commerce partner retailers including Amazon, Flipkart, Myntra, Ajio, Reliance Digital, and MakeMyTrip. Users browse deals on the website or Android mobile app, click through to partner retailers, and earn cashback (PW Cashback) credited to their PaisaWapas wallet, redeemable via UPI, bank transfer, mobile recharge, DTH, or gift vouchers. The platform operates on a free-to-consumer model monetized through affiliate commissions from partner retailers on qualifying transactions.

Product overview

PaisaWapas operates as a unified cashback and coupon aggregation platform centered around PaisaWapas.com, which serves as the core product aggregating deals from 500+ partner e-commerce stores. The platform's portfolio includes a dedicated Android mobile application, a Gift Cards sub-product for discounted digital vouchers, the Spin & Win gamification feature, WhatsApp-based notification services, and a Refer & Earn referral program. The ecosystem functions on a Browse, Shop, and Earn model where users access affiliate links, earn cashback credited to their PaisaWapas wallet, and can redeem rewards via recharge, wallet, UPI, bank transfer, DTH, or gift vouchers.

Differentiator

Problem solved

Functional benefit

Products and services

• PaisaWapas.com (Cashback & Coupon Platform) Cashback and coupon aggregation web platform that consolidates coupons, promo codes, bank offers, wallet offers, and cashback deals from 500+ Indian e-commerce partner retailers including Amazon, Flipkart, Myntra, Ajio, Reliance Digital, and MakeMyTrip. Users browse deals, shop through affiliate links, and earn PW Cashback credited to their PaisaWapas wallet, redeemable via UPI, bank transfer, mobile recharge, DTH, or gift vouchers. Targeted at value-conscious individual online shoppers across India.
• PaisaWapas Mobile App Android mobile application that provides the same cashback and coupon aggregation services as the web platform, optimized for mobile access with daily deal updates, Hot Deals section, and All-in-One Search feature for cross-platform price comparison. Targets Indian online shoppers who prefer mobile-first deal discovery and cashback tracking.
• Gift Cards Dedicated Gift Cards section offering digital gift cards and vouchers from brands including Nykaa, Dominos, Zomato, The Body Shop, PVR, and Cafe Coffee Day at discounted prices with extra cashback rewards. Targeted at Indian consumers seeking branded gift vouchers at lower-than-retail prices.

Quantifiable outcome

• Users have reported earning Rs.1800+ cashback in two months of regular shopping
• +1 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Amazon IndiacoreGTM or Marketing PartnerAmazon India is a primary partner store offering up to 4.9% PW Voucher Cash on purchases. PaisaWapas users can access Amazon deals, coupons, and earn cashback on qualifying transactions through affiliate links.
• FlipkartcoreGTM or Marketing PartnerFlipkart is a major partner offering up to 7% PW Reward on purchases. One of the top-trending stores on the platform with 51+ active offers at any time.
• MyntracoreGTM or Marketing PartnerMyntra offers flat 3% PW Cashback on fashion purchases with 57 active offers. Primary fashion retail partner on the platform.
• AjiocoreGTM or Marketing PartnerAjio (Reliance Retail) is a key fashion partner offering up to 10% PW Cashback with 52 active offers including AJIO Giant Fashion Sales.
• Reliance DigitalcoreGTM or Marketing PartnerReliance Digital electronics store partner offering up to 3% PW Cashback on electronics purchases including laptops with up to Rs.15,000 instant discounts.
• MakeMyTripminorGTM or Marketing PartnerTravel partner offering up to 40% off across travel categories with flat Rs.300 PW Cashback on bookings through PaisaWapas affiliate links.
• Oppo IndiaminorGTM or Marketing PartnerOppo smartphone brand partner offering up to 4.25% PW Cashback on mobile purchases including OPPO Pad 5, Reno series, and accessory products.
• SBI CardsminorGTM or Marketing PartnerSBI Credit Card partnerships offering flat Rs.2400 PW Reward on new card applications including SBI SimplyCLICK and SBI SimplySAVE cards.
• Forest EssentialsminorGTM or Marketing PartnerAyurvedic beauty brand partner offering flat 15% PW Cashback on natural skincare and haircare products. Has 474 user reviews and 4-star average rating.
• MamaearthminorGTM or Marketing PartnerBaby and beauty care brand partner. Asia's first MADE SAFE Certified brand offering coupons for mothers and babies. Currently showing 0% cashback.
• Adidas IndiaminorGTM or Marketing PartnerSportswear and footwear brand partner offering flat 10% PW Cashback on all orders including sneakers, activewear, and sports equipment.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• GrabOn: India-focused coupon and deals platform aggregating offers from major e-commerce retailers. Same content-led, affiliate-monetized model and similar target audience.
• EarnKaro: Indian reseller/cashback platform enabling users to earn commissions by sharing deals via social channels. Operates the same affiliate-driven value proposition targeting value-conscious online shoppers in India.
• GoPaisa: Indian cashback and coupon aggregator with similar affiliate revenue model and retailer partnerships. Competes head-to-head with PaisaWapas on consumer cashback offers and brand coverage.
• CashKaro: India's largest cashback and coupon platform, operating an identical affiliate-based model with retailer partnerships across Amazon, Flipkart, Myntra and others. Closest direct competitor to PaisaWapas in the Indian cashback aggregator category.

Broad incumbents

• Coupons.com: Long-standing US-based digital coupon platform (Quotient Technology / Neptune Retail Solutions). Broad incumbent in coupon aggregation with much larger scale; relevant as a category benchmark for PaisaWapas.
• Honey (PayPal): Acquired by PayPal, Honey is a browser-based coupon and cashback extension with global retailer coverage. Comparable product category and affiliate-driven model at significantly greater scale.
• Rakuten: Global cashback and loyalty marketplace with deep retailer relationships and a mature affiliate infrastructure. Useful peer benchmark for the cashback aggregator model at scale.

Emerging players

• Coupons.in (Coupons United / IndiaMART ecosystem): India-focused coupon aggregator providing deals across Indian e-commerce stores. Operates in the same niche with overlapping retailer relationships.
• Magicpin: Indian hyperlocal discovery and rewards platform with cashback mechanics across online and offline merchants. Overlaps with PaisaWapas on cashback-as-loyalty approach but extends to offline retail.

Regional players

• TopCashback: International cashback platform with an India-focused vertical offering similar affiliate-driven cashback across global and Indian retailers. Comparable in business model; competitive primarily in cross-border shopping.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/paisawapas
• Facebookfacebook.com/paisawapas
• LinkedInlinkedin.com/company/paisa-wapas
• Instagraminstagram.com/paisawapas

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PaisaWapas