Shark Tank Credmate
Shark Tank India features Credmate, a money lending- borrowing platform. Will this company be able to impress the sharks and bag a deal? To know, read till the end.
|Founders||Gaurav Kundra and Gaurav Sharma|
|Ask||₹50 lakhs rupees for 5% equity|
Gaurav Kundra and Gaurav Sharma are the founders from Ludhiana. Gaurav Kandra completed his BBA in the year 2014. Along with the business he had a wish to do something innovative. In 2012 he started to work with some Chinese companies and from there he came to realize that without credit no businesses can be run smoothly. He completed his finance executive from IIT Delhi in the year 2022. Gaurav Sharma completed his B.Tech degree in Electronics Engineering in the year 1995. Then he started to sell IT, Hardware and software solutions as his first business. In the year 2010 he started to import products from China for his business.
About the company Credmate
Credmate is such a company that lends you money for your needs. They have 2.75 lakhs registered users. These users have transacted about 1800 crore rupees through Credmate.They have their app available on Playstore and IOS. The work is very simple. If the borrower wants money from Lender, a notification will appear on the lender platform. Lender will have an OTP with him. When the borrower will come and return the money then the lender will give the OTP to the borrower to complete the transaction on Credmate.No one can escape after borrowing money.
Ask by the Credmate Owners
The Pitchers made an ask of ₹50 lakhs rupees for 5% equity in the company.
Credmate Sales And Revenue
Their revenue stream is from the completion of KYCs. They charge Rs. 50 for KYC completion. Their cost is Rs. 5. They have generated a revenue of 12 lakhs rupees. In the past month their revenue was 1.3 lakhs rupees. They will use their funds for CAC and customer retention. Their future revenue stream will be Advertisements and Offers. Their total transaction per day is about 1.17 lakhs rupees. They have invested 30 lakhs rupees without any debt.
Paradyes Shark Tank India Season 2
Offers and counter offers
As no sharks were interested, no deal was done with the company.
Final deal Credmate
No deal was finalized.