Company:Cashrewards

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Short description: Australian cashback reward program
Cashrewards
TypePrivate
IndustryE-commerce, loyalty programs, retailing
Founded2014
FoundersAndrew Clarke
Lorica Clarke
HeadquartersSydney, New South Wales, Australia
Area served
Australia
Key people
Anthony Seymour-Walsh (CEO)
ServicesCashback
MembersIncrease 1.8 million (2022)
Parent1835i, ANZ Bank’s external innovation and venture capital partner
Websitewww.cashrewards.com.au

Cashrewards is an Australian cashback website. The company says that it has over 2 million members with overs from over 2000 sellers including Apple, Amazon, Myer, Liquorland, Adidas, Bonds, Target, Booking.com and The Iconic.[1]

History

Cashrewards was founded in 2014 by Andrew and Lorica Clarke.[2]

In 2018, Cashrewards launched its In Store Offers platform, with Visa Inc. The platform allows members with a Visa credit card or debit card to earn cashback at hundreds of stores in Australia.[3]

In June 2019, announced plans for an initial public offering (IPO) by 2020.[4][5] In October of that year allowed users of In Store Offers to use Mastercard to access cashback from participating retailers.

In July 2021, Cashrewards and ANZ launched Cashrewards Max. Exclusive to ANZ credit and debit card users, Cashrewards Max members received higher cashback offers from participating sellers.[6][7]

In January 2022, the remaining stake in Cashrewards was acquired from a group of shareholders by 1835i, ANZ Bank’s external innovation and venture capital partner.[citation needed] On 30 September 2022, the Cashrewards Max program was retired. In November 2022, ANZ Bank added a feature to their app that allows access to Cashrewards' cashback from the ANZ App.

Philanthropy

In 2017, Cashrewards joined the Salesforce charity initiative "Pledge 1%". Cashrewards was founded by the Clarkes after their child survived a serious illness, so they chose the Starlight Children's Foundation, due to the support the organisation provided to their child during the illness.[8] They pledged to match 1% of all cashback that their members withdraw and donate it to the Foundation.[8][6][7]

Awards and recognition

Year Category Institution or publication Result Notes Ref.
2016 Finalist: Best Fintech Startup StartCon Nominated Australasian Startup Awards 2016 [9]
2016 Deloitte Tech Fast 50 Awards Australia Deloitte Won Deloitte Technology Fast 500 2016 [10]
2017 Finalist: E-commerce Company of the Year StartCon Nominated Australasian Startup Awards 2017 [11]
2017 Finalist: NSW Region Telstra Nominated Telstra Business Awards 2017 [12]
2017 Finalist: Eastern Region Ernst & Young (EY) Nominated Ernst & Young Entrepreneur Of The Year Award 2017 [13]
2017 Smart50 List (4th Place) SmartCompany Won Smart50 Awards 2017 [14]
2017 Finalist: Corporate Social Responsibility Program of the Year Optus & MyBusiness Nominated Optus My Business Awards 2017 [15]
2017 Media, Marketing and Advertising Business of the Year Optus & MyBusiness Won Optus My Business Awards 2017 [16]
2017 Finalist: Deloitte Tech Fast 50 Awards Australia Deloitte Nominated Deloitte Technology Fast 500 2017 [17]
2017 Businesses of Tomorrow Award Westpac Won Westpac Businesses of Tomorrow 2017 [18]
2018 Fast 100 List (6th Place) The Australian Financial Review Won Financial Review Fast 100 2018
2018 Nora Best Loyalty Marketing Nora Won Nora Solution Partner Awards [19]

References

  1. ↑ "How Cashrewards delivers high returns with "near-zero" risk". Cashrewards. https://www.cashrewards.com.au/blog/business/tei-report. 
  2. ↑ Bowen, Nigel. "Generating Business Ideas: A Masterclass". http://www.contentsherpa.com.au/wp-content/uploads/2019/06/NAB-Andrew-Clark-profile.pdf. 
  3. ↑ "Cashrewards Teams Up with Visa to Launch New In-Store Cashback Program" (Press release). October 16, 2018. Archived from the original on December 7, 2020. Retrieved July 11, 2019.
  4. ↑ Smith, Paul (June 3, 2019). "Online retailer Cashrewards banks Silicon Valley backing as market picks up pace". The Australian Financial Review (Nine Publishing). https://www.afr.com/technology/web/ecommerce/online-retailer-cashrewards-banks-silicon-valley-backing-as-market-picks-up-pace-20180419-h0yzwe. 
  5. ↑ Blake, Dean (June 4, 2019). "Cashrewards raises $5.25m, eyes IPO". InternetRetailing.com.au (Octomedia). https://internetretailing.com.au/cashrewards-raises-5-25m-eyes-ipo/. 
  6. ↑ 6.0 6.1 Michael, Luke (December 7, 2020). "Cashrewards takes social purpose to the ASX". Probono Australia. Retrieved August 4, 2021.
  7. ↑ 7.0 7.1 Gray, Emma (July 22, 2021). “Cashback to the max”. BlueNotes. Retrieved August 5, 2021.
  8. ↑ 8.0 8.1 "Cashrewards: Rewarding Happiness for Starlight and SIck Kids". https://starlight.org.au/cashrewards. 
  9. ↑ Mack, Cheryl. "Over 3100 attendees gathered in Sydney for StartCon and the Australasian Startup Awards 2016". StartCon. https://www.startcon.com/news/3100-attendees-gather-for-startcon-2016-australasian-startup-awards. 
  10. ↑ Bowen, Nigel. "Technology Fast 50 2017 Winners' Report". https://www2.deloitte.com/content/dam/Deloitte/au/Documents/technology-media-telecommunications/deloitte-au-tmt-tech-fast-50-australia-2017-winners-report-291117.pdf. 
  11. ↑ Mack, Cheryl. "Winners of the 2017 Annual Australasian Startup Awards". StartCon. https://www.startcon.com/news/winners-of-the-2017-annual-australasian-startup-awards/. 
  12. ↑ 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.
  13. ↑ Kent, Melanie (July 5, 2017). "EY Entrepreneur Of The Year™ regional finalists revealed". Ernst & Young. https://www.ey.com/au/en/newsroom/news-releases/news-ey-entrepreneur-of-the-year-tm-regional-finalists-revealed/. 
  14. ↑ "Smart50 Awards 2017: Cashrewards". 14 October 2017. https://www.smartcompany.com.au/lists/smart50-awards-2017/cashrewards/. 
  15. ↑ Zuchetti, Adam (November 11, 2017). "Optus My Business Awards 2017 winners revealed". MyBusiness (Momentum Media). https://www.mybusiness.com.au/management/3649-optus-my-business-awards-2017-winners-revealed. 
  16. ↑ "2017 Winners". https://www.mybusiness.com.au/my-business-awards/winners/2017-winners. 
  17. ↑ "Technology Fast 50 2017 Winners' Report". https://www2.deloitte.com/content/dam/Deloitte/au/Documents/technology-media-telecommunications/deloitte-au-tmt-tech-fast-50-australia-2017-winners-report-291117.pdf. 
  18. ↑ "Meet the 2017 Businesses of Tomorrow". https://businessesoftomorrow.com.au/winners/winners-2017. 
  19. ↑ "Solution providers recognised at inaugural industry awards". 30 October 2018. https://internetretailing.com.au/solution-providers-recognised-inaugural-industry-awards/. 



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