Cashrewards Shuts Down After 11 Years in Business
It’s the end of an era for one of Australia’s most popular online shopping platforms. Cashrewards, the Sydney-founded cashback website that once promised shoppers a little something back every time they made a purchase through its links, has officially closed its doors after more than a decade in operation.
The shutdown was announced suddenly, taking effect from midday on September 8, 2025. Customers logging into the website or the app were greeted with the news that offers would no longer be available. While no detailed explanation was given publicly, the decision is linked to the platform’s failure to meet performance expectations under its owner, ANZ’s venture capital arm, 1835i Ventures.
Also Read:For long-time members, the news is bittersweet. Cashrewards had been a trusted tool since its founding in 2014 by Andrew and Lorica Clarke. Over the years, it built a community of more than two million users and partnered with major retailers like Apple, Myer, Target, and Booking.com. The model was simple yet powerful—use Cashrewards’ affiliate links when shopping, and part of the retailer’s commission would be returned as cash to the buyer. For many households, it became a small but reliable way to save on everyday purchases.
When ANZ, through 1835i, acquired the company in 2022 for $72.5 million, hopes were high that Cashrewards would scale further. At the time, the business was even delisted from the ASX as part of the deal, and a loan agreement of up to $15 million was put in place to support its growth. But despite these moves, the company struggled to deliver on expectations. Even its acquisition of the AI-driven comparison platform Little Birdie in 2024 wasn’t enough to keep it afloat.
The closure comes as ANZ is aggressively cutting costs across its broader operations, with reports of thousands of jobs also set to go. Cashrewards, it seems, became another casualty of this belt-tightening strategy.
For users, the focus now is on retrieving their funds. The company has assured members that cashback from recent purchases will still be honoured. Customers are being urged to withdraw their balances by October 25, while automatic transfers to linked bank or PayPal accounts will take place for those who don’t act in time. All final claims must be processed by December 12.
Although no longer part of Australia’s digital shopping landscape, Cashrewards leaves behind a legacy. It showed how a clever business model could change everyday spending habits, and for 11 years, it delivered genuine value to millions of shoppers. Its sudden disappearance highlights how even established platforms can face tough endings when corporate strategies shift and performance targets are not met.
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