Haqdarshak Shark Tank India Season 2
|Ask||₹1 crore for 0.5% equity|
Aniket Doegar is the founder of the company. He was born and brought up in Shimla. He completed his graduation from Shri Ram College of commerce. He previously worked as a government school teacher. He had worked in rural Maharashtra, urban Delhi, and Rajasthan.
It is a mobile and web platform that informs people about the schemes, and the eligibility of those schemes and also supports them to reach to the last milestone of this program by using their agent network. Out of the total population of India, 90 crore people come from marginalized and below-poverty-line families and the government provides more than 13000 schemes and programs for them. In 2015 Aniket founded Haqdarshak to fill the information gap for the beneficiaries for government schemes. More than 25000 agents work with them across 50 centers in India. More than 25 lakh people are benefited from their work. More than 50000 micro businesses benefited by the company. The total amount disbursed is more than 5000 crores. Recently they launched a QR-based card called the Yojana guard card that keeps on updating about various schemes to the beneficiaries timely. Their vision is to make sure to reach out to 90 crore beneficiaries to help them in getting government schemes. There are goal is to become the best social security company in India in the next 10 years.
Ask the Pitchers
The founder made an ask of 1 crore for 0.5% equity of the company at a valuation of 200 crores.
Other information about the company
A haqdarshak agent goes to various communities to grow awareness among them about government schemes and how to apply them through doorstep delivery or community participation. The app contains 40 to 45 questions regarding the basic information of the beneficiary. In total there are 200 employees working in the company, 3000 active agents, 25000 trained agents, and 150 agents working part-time. Aniket holds 34% equity share. ESOP has 30% and investors have 30% equity share. He raised funding of ₹1.25 crores at the valuation of 10 crores and ₹6.6 crores at the valuation of 30 crores. The revenue model is B2B. Till now they had 110 corporate contacts. In FY 21 to 22 the sales were 15.5 crores. In FY 22-23, the projected sales are 30 crores. The EBITDA is 7%.
Offers and counter offer
Peyush gave an offer of 1 crore for two% equity at the valuation of 50 crores.
Namita and Aman gave an offer of 50 lacs for one percent equity at the valuation of 50 crores and 50 lacs debt at 10% interest rate.
Aniket gave an offer to all three sharks Namita Aman and Piyush to come together at 1 crore for 1.5% equity of the company at the valuation of 66.7 crores.
Later, the sharks revise the offer for 1 crore at 2% equity.
Haqdarshak Final Deal
The final deal was closed with Namitha Aman Piyush for 1 crore at 2% equity and a valuation of 50 crores.