Women Bring Empathy, Adaptability, and a Problem-Solving Mindset to Leadership

In a candid chat with CIOL, Swati Bhargava, the dynamic Co-founder of CashKaro and EarnKaro, opens up about her entrepreneurial journey—from turning an idea into India’s biggest cashback platform. Newlyweds Swati and Rohan, while planning their honeymoon in the UK, stumbled upon cashback websites. Why not bring this to India - that “aha!” moment sparked CashKaro, which has since handed back a staggering ₹1,000+ crores to shoppers. But the ride wasn’t smooth. Imagine convincing a market unfamiliar with cashbacks to trust your startup, or walking into investor meetings as the only woman in the room.

 With International Women's Day 2025 around the corner, let’s uncover Swati’s secret sauce. Its grit, powered by resilience backed by a rock-solid team, and mentors like Ratan Tata, whose investment wasn’t just funding but a vote of confidence.  Beyond business, she’s rewriting rules for women in startups. “Why wait for a seat at the table? Build your own,” she says, advocating for more female entrepreneurs and inclusive workplaces.

Her advice to women? “Jump first, figure it out later.” From battling biases (subtle or otherwise) to pushing for funding parity, Swati’s story isn’t just about cashbacks—it’s about cracking glass ceilings and proving that empathy and hustle are the hallmarks of great leadership. 

Excerpts from the Interview:

What provoked you to embark on your entrepreneurial journey, and how did you navigate the initial challenges?

My entrepreneurial journey began with a simple realization—smart shopping should be accessible to everyone. While booking our honeymoon tickets, my husband Rohan and I came across cashback websites in the UK. Recognizing the immense potential of this model, we wanted to introduce it in India, and that’s how CashKaro was born.

The early days were anything but easy. Bringing a new concept to the Indian market, building trust among customers, and securing partnerships were significant challenges. However, resilience, adaptability, and a strong support system played a crucial role. Instead of seeing setbacks as roadblocks, I viewed them as valuable learning experiences. Having the right mentors and a passionate team helped us turn obstacles into opportunities for growth. Today, CashKaro has grown into India's largest cashback and coupons platform, returning over INR 1,000 crores in real cashback to customers. This journey has only strengthened my belief that persistence and innovation can break any barrier.

Can you share a defining or an inflection moment that shaped your journey as a leader?

A defining moment in my journey was meeting Mr. Ratan Tata in 2016 when he decided to invest in CashKaro. His acumen, attention to detail, and humility left a lasting impression on me. Securing his investment was a strong validation of our vision and reinforced my confidence as an entrepreneur. This experience taught me that leadership is about staying agile, making bold decisions, and turning challenges into opportunities. It also reaffirmed that building a strong team and company culture is crucial for long-term success.

Tell us about how you navigated challenges in a male-dominated industry, and broke the gender bias? How can women build more resilience?

The startup ecosystem, especially fintech and e-commerce, has been largely male dominated. Initially, I often found myself being the only woman in investor meetings or industry panels. Rather than letting this intimidate me, I focused on proving my capabilities through results.

Resilience comes from belief in your vision, continuous learning, and surrounding yourself with allies who champion diversity. Women should embrace their unique leadership styles, ask for opportunities, and not shy away from tough conversations. The more women step up, the more we normalize female leadership in startups.

Have you faced gender biases in your career? How did you tackle them?

Honestly, I’ve been fortunate not to have faced direct gender biases in my journey. However, I’m aware that many women in leadership roles do encounter them—whether it's being questioned about balancing work and family or having to prove their financial expertise more than their male counterparts.

For me, the focus has always been on delivering results and building a strong business. I believe the best way to challenge biases is by leading by example—creating successful businesses, mentoring more women, and fostering inclusive workplaces. Real change happens when we normalize female leadership and encourage women to own their achievements with confidence.

On DEI and how Indian organizations, particularly startups deal with it?

Diversity, Equity, and Inclusion (DEI) are gaining more attention in Indian startups, but there’s still a long way to go. While companies are hiring more women, true inclusivity comes from fostering a culture where women feel valued, heard, and empowered to lead.

At CashKaro, we focus on hiring based on talent, providing mentorship opportunities, and ensuring work-life balance to retain women in leadership roles. The key is not just bringing women into the workforce but creating an environment where they can thrive and rise to decision-making positions.

 In your opinion how can we encourage more women to take leadership roles in startups and tech?

Representation matters. The more women see role models in leadership, the more they aspire to step up. Companies must actively mentor and sponsor women, offering leadership training and ensuring their participation in key business decisions.

Creating a truly inclusive workplace goes beyond policies—it’s about fostering an environment where women feel valued and empowered. Flexible work policies help, but organizations should also invest in workshops and webinars that equip women with skills in emerging technologies like AI, data analytics, and digital transformation. These learning opportunities not only help women stay ahead in a rapidly evolving workplace but also prepare them to take on leadership roles with confidence. Most importantly, women should be encouraged to take risks, negotiate better, and embrace leadership opportunities without hesitation.

What are the unique strengths women bring to entrepreneurship and leadership?

Women bring empathy, adaptability, and a problem-solving mindset to leadership. They excel in creating collaborative work cultures and are great at customer-centric innovation.

Another strength is resilience—many women juggle multiple responsibilities yet deliver exceptional results. This ability to multitask, communicate effectively, and lead with emotional intelligence makes women powerful leaders in any industry.

If you could change one thing for women in the startup ecosystem, what would it be?

Access to funding. Studies show that women-led startups receive significantly less VC funding than male-led ones, despite performing equally well or better. Changing this requires not only more women investors but also a shift in perception—investors need to bet on women entrepreneurs with the same confidence.

At a broader level, we need policies that support women founders—better access to networking, business grants, and mentorship programs. When women are financially empowered, they create businesses that uplift entire communities.

What’s that one piece of advice you give to budding women entrepreneurs? How can they step out of their comfort zones and challenge the status quo?

Believe in yourself and start before you feel ‘ready.’ Women often wait for the perfect moment or underestimate their capabilities, but growth happens when you push beyond comfort zones. Trust in your vision and take the leap, even if it feels daunting.

Network relentlessly, seek mentors, and learn financial acumen—it’s essential for business success. Most importantly, don’t let fear of failure hold you back. Every successful entrepreneur has faced setbacks; the key is to keep going. The world needs more women leaders, and the first step starts with you taking that leap.

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