Company Profile: Cashrewards

Background

Cashrewards was an Australian-owned and operated cashback platform founded in 2014 by Andrew and Lorica Clarke. The company aimed to make everyday shopping more rewarding for Australians by offering cashback deals, coupons, and discounts across a wide range of retailers. By 2025, Cashrewards had grown to over 2 million members and partnered with more than 2,000 brands, including Apple, Amazon, Myer, Liquorland, Adidas, Bonds, Target, Booking.com, and The Iconic.

Key Strategic Focus

Cashrewards' strategic focus was to provide a dual-sided value proposition:

• For Members: Offering cashback on online and in-store purchases, enabling members to earn a percentage of their spending back.

• For Merchant Partners: Serving as a performance-based marketing channel that drove brand awareness and sales, with retailers paying a commission only when a sale was made through the platform.

Financials and Funding

Since its inception, Cashrewards generated over $5 billion in sales for its merchant partners and returned more than $165 million in cashback rewards to Australian consumers. In April 2018, the company secured $5.25 million in debt funding to support its growth initiatives. In June 2019, Cashrewards completed a $5.2 million Series-A funding round, with Alium Capital Management as the leading investor. The capital was intended to enhance marketing efforts and further develop its proprietary technology platform.

Pipeline Development

Cashrewards continually expanded its offerings through strategic partnerships and technological advancements. In 2018, the company launched its In-Store Offers platform in partnership with Visa, allowing members to earn cashback at hundreds of physical stores across Australia. By 2025, Cashrewards had integrated with various retailers and payment platforms to enhance its service offerings.

Technological Platform and Innovation

Cashrewards utilized a proprietary technology platform to deliver its cashback services. The platform supported online and in-store transactions, providing members with a seamless experience across various retailers. The company also developed a mobile app and browser extension to facilitate easy access to cashback deals.

Leadership Team

The leadership team consisted of:

• Andrew Clarke: Founder and Executive Chairman, who played a pivotal role in establishing Cashrewards and driving its growth.

• Lorica Clarke: Co-founder, contributing to the company's strategic direction and operations.

• Anthony Seymour-Walsh: Chief Executive Officer, overseeing operations and strategic initiatives.

• Zelma van Woerkom: Chief Finance Officer, responsible for managing the company's financial operations.

• Sophie Stickland: Head of Client Services, ensuring positive relationships with merchant partners.

• Nick Ognenovski: Chief Technology Officer, overseeing technological development and infrastructure.

• Nicole Bardsley: Chief Marketing Officer, responsible for marketing strategies and brand positioning.

In January 2022, Cashrewards was acquired by 1835i, ANZ Bank's external innovation and venture capital partner. This acquisition led to significant changes in the company's leadership structure.

Operational Insights

Cashrewards operated on a performance-based revenue model, earning commissions from merchant partners when members made purchases through the platform. This model ensured that the company's revenue was directly linked to its ability to drive sales for its partners.

Competitor Profile and Market Dynamics

The Australian cashback market experienced significant growth with Cashrewards as a key player. The closure of Cashrewards in September 2025 created opportunities for competitors to capture market share. Key competitors included ShopBack, TopCashback, and emerging platforms like Aura Cashback, which offered similar cashback services aimed at filling the gap left by Cashrewards' closure.

Strategic Collaborations and Partnerships

Cashrewards formed strategic partnerships with major retailers and payment platforms to enhance service offerings. Notably, the 2018 launch of its In-Store Offers platform, in partnership with Visa, allowed members to earn cashback at physical stores across Australia.

Strategic Opportunities and Future Directions

Prior to its closure, Cashrewards had plans for an initial public offering (IPO) by 2020, aiming to further expand its market presence and service offerings. The closure in 2025 opened avenues for competitors to pursue growth opportunities within the Australian cashback services market.