Ujjain-based Make My Payment emerged as a promising financial technology startup on Shark Tank India Season 4, presenting an innovative solution to help businesses recover pending payments through an automated reminder system.
Table of Contents
Quick Facts About Make My Payment
| Company Name | Make My Payment |
| Founder | Vijay Nihalchandani |
| Founded | Not Disclosed |
| Location | Ujjain, Madhya Pradesh |
| Industry | Financial Technology (FinTech) |
| Asked Investment | ₹30 Lakhs for 3% equity |
| Asked Valuation | ₹10 Crores |
| Shark Tank Outcome | No Deal Secured |
| Business Model | Automated Payment Reminder System |
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About Make My Payment: Streamlining Business Financial Recovery
The company specializes in:
- Automated payment reminder services
- Business payment recovery solutions
- Digital debt collection tools
- Streamlined financial tracking
- Efficient borrowing management
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The Shark Tank India Pitch
The founder presented his vision to the panel of sharks:
- Anupam Mittal
- Namita Thapar
- Ritesh Agarwal
- Peyush Bansal
- Aman Gupta
He sought ₹30 Lakhs for 3% equity, valuing the company at ₹10 Crores.
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Product Innovation
Key features of Make My Payment:
- Automated Reminder System
- Customizable payment reminders
- Multi-channel communication
- Tracking of pending payments
- Reducing manual follow-up efforts
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- Business Financial Management
- Payment recovery tools
- Debt tracking mechanisms
- Simplified borrowing management
- Reducing financial delays
Market Positioning
Make My Payment targets:
- Small and medium enterprises
- Freelancers
- Service-based businesses
- Entrepreneurs
- Financial managers
- Businesses with payment recovery challenges
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Technological Approach
Core technological capabilities:
- Automated reminder generation
- Multi-platform integration
- Personalized communication
- Real-time payment tracking
- User-friendly interface
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Challenges and Opportunities
Potential growth areas:
- Expanding feature set
- Developing more robust tracking
- Creating industry-specific solutions
- Enhancing user experience
- Building trust mechanisms
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Market Opportunity
Potential expansion directions:
- B2B payment solutions
- Financial technology market
- Digital debt management
- Small business financial tools
- Automated financial services
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Shark Tank Experience
Key takeaways:
- National exposure
- Valuable entrepreneurial feedback
- Networking opportunities
- Platform for business validation
- Potential for future improvements
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Conclusion
Make My Payment represents an innovative approach to solving payment recovery challenges for businesses. By developing an automated reminder system, the startup addresses a critical pain point in financial management for small and medium enterprises.
Although the startup didn’t secure an investment on Shark Tank India, the exposure and mentorship provide valuable insights for future growth and development.
FAQs
Who is the founder of Make My Payment?
Vijay Nihalchandani
