ANZ-backed on-line purchasing cashback platform Cashrewards has shut down.
The corporate introduced its demise on Monday afternoon with a discover saying “From 12pm AEST, Monday, 8 September 2025, Cashrewards ceased making presents accessible on its Web site, App and Notifier.”
Clients acquired an e mail round two hours after the shutdown, with the headline “URGENT: Cashrewards is closing – declare your cashback now”.
The closure comes amid turmoil at ANZ underneath new CEO Nuno Matos, who’s presently on a price reducing and firing spree that noticed the financial institution achieve notoriety final month when an automated e mail went out telling employees they’d been made redundant earlier than they’d been formally advised.
Earlier as we speak, it emerged that ANZ-backed enterprise agency 1835i, which has invested in Cashrewards, bought a $67 million stake in Airwallex forward of the fintech’s IPO, simply 5 years and fewer after the investments.
The promote down and Cashrewards closure counsel ANZ’s help for 1835i can also be coming to an finish, leaving the way forward for the fintech VC unclear. Startup Day by day has contacted each 1835i and ANZ for remark.
Startup Day by day understands that the rewards fintech had not carried out to the expectations of its investor.
Cashrewards, based by Andrew and Lorica Clarke in 2014, listed on the ASX in December 2020 at $1.73 a share in an IPO that raised $65 million. But it surely was a brief and candy public life. Inside 12 months 1835i Ventures, which already had a 19% stake in Cashrewards that value it $26 million, lodged a takeover bid price $72.5m at $1.135 per share, a 35% low cost, and took the corporate personal as soon as once more in January 2022, having spent round $100m.
Andrew Clarke and Chris Gardner from Cashrewards in 2016, when the fintech featured within the Deloitte Quick 50.
Final yr, Cashrewards acquired on-line retail offers market Little Birdie simply two months after its shut down. On the time, Cashrewards CEO Anthony Seymour-Walsh stated the deal was “a significant win for customers” and a part of ambitions to create the final word purchasing companion.
This time 12 months in the past, nearly to the day, Cashrewards introduced a partnership with the ANZ Plus app so clients can entry Cashrewards presents to spend and save from inside their ANZ Plus app.
Anthony Seymour-Walsh stated on the time that: “We’re pleased with our partnership with ANZ and the brand new Cashrewards integration to the ANZ Plus Add-On expertise.”
Now, the fintech is telling everybody to move for the exit slides.
“Please withdraw your funds by 11:59am AEDT on Friday, 24 October 2025. To withdraw your funds merely click on Withdrawal in My rewards,” the web site says.
The fintech had ambitions to tackle Afterpay for the hearts and minds of consumers, providing its service without spending a dime whereas taking fee from the vendor.
Consumers scored between 3% and 6% of the sale value because the cashback low cost. Retailers starting from Chemist Warehouse, Cotton On, Goal and even Amazon have been on the roster.
There’s additionally an intriguing be aware on the positioning for anybody with a Cashrewards stability above $5000, saying “if we suspect unlawful, fraudulent, misleading or dishonest conduct in connection along with your account” customers “should present us with “know your buyer” (KYC) data as requested by us”.
These buyer have till December 10 to reply or “you won’t be able to submit a request to withdraw your Rewards.”
We’ll replace this story if we hear again from ANZ or 1835i.
Supply: cashrewards.com.au
