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Shark Tank India Season 2 features Credmate which is a money-lending borrowing platform. Can this startup be capable of impressing the sharks and land an agreement? For more information, read to the very end.
The entrepreneur entertains the industry of loans by wearing an appealing face wearing the appearance of a shark while pitching The New World of Credit. The Pitchers of Shark Tank India presents an innovative fintech company that brings all of the features into a more appealing form in the Udhar Ki Nayi Duniya Application.
This article will explore the details of whether it’s worthwhile to invest in the eyes of sharks. It will also provide an alternative solution to the problem of enormous losses in the lending industry because of this fake persona.
As we reviewed Shark Tank India Season 2 Cred Mate. We discovered that nearly 75% of Fintech Startups fail. The interest of everyone in the opportunities that exist in this sector of business is evident in the numbers. However, for it to be successful the business’s comments and guidelines must also be taken into consideration.
Discuss the stories of success and failures of these businesses by commenting on names and descriptions of companies that are similar to Shark Tank India Season 2 Cred Mate. In order to establish a company with the latest trend in the Fintech business, it is important to also analyze the plans for it and its success.
After reviewing the business with enthusiasm, you can conduct research about Shark Guidance while commenting on ideas for expansion and investments.
Credmate Founders
Gaurav Kundra & Gaurav Sharma are the founders of Credmate from the two founders from Ludhiana. Gaurav Kandra finished his BBA in 2014. Along with his business, Gaurav Kandra had the desire to create something new. In 2012, he began working with some Chinese businesses and he realized that businesses without credit could be managed efficiently.
He graduated as a finance executive training at IIT Delhi in the year 2022. Gaurav Sharma earned his B.Tech diploma with a major in Electronics Engineering in the year 1995. He then began selling hardware, software, and IT solutions as his initial business. In the year 2010, he began to import goods from China to run his business.
Information About the Business Credmate
Credmate is a company that will lend you money to meet your needs. They have 2.75 lakh registered users. They have transferred around 1800 crore rupees via Credmate. Credmate is accessible in the Play Store as well as IOS. It’s a simple process. If the borrower is seeking cash from Lender the notice will be displayed on the lender’s platform.
The lender will carry an OTP along with him. When the borrower arrives and pays back the loan, the lender will hand over an OTP on behalf of the person borrowing in order to complete the transaction via Credmate.No person can get away when they have borrowed money.
Ask by the Credmate Owners
The Pitchers offered a price of Rs 50 lakhs in exchange for five percent of the equity stake within the business.
Credmate Sales And Revenue
Their income stream comes from the processing of KYCs. They charge 50 rupees for KYC completion. 50 for KYC complete. The cost for KYC is the equivalent of Rs. 5. They have made a profit of 12 lakhs of rupees.
Last month their earnings were 1.3 million rupees. They intend to use the funds to fund CAC and the retention of customers. The future revenue stream for them will come from advertisements and offers.
The amount of transactions they make each day is approximately 1.17 thousand rupees. The company has invested 30 Lakhs in rupees without any obligation to repay.
Credmate was established in the year 2019 and is a contract and promise platform for mobile applications that tracks the promises and consents of users and also gives a score based on the behavior of the user who has met his promises and hasn’t ever violated his commitments.
The purpose of Credmate is to keep track of the promises until they are completed and to provide a complete analysis of the behavior that the client has, aiding in deciding whether to continue with the particular user who has an unsatisfactory Consent/Promise completion behavior previously or not. It is important to note that broken promises indicate a sudden loss of trust in the person who made the promise.
Credmate, motivated by one goal, aims to create a platform that acts as a Trust protocol and classify users based on their past promises, keeping his behavior in real-time, and guaranteeing that the world is safe from fraud, making sure that no one will be the next victim or fall victim to fraud due to the absence of this crucial information.