Made to assist companies in recovering unpaid consumer debts, Make My Payment is an app. With an eye toward saving time and effort by automating the reminder procedure for past-due payments, it Targeting defaulters, the software reminds them by calls, messages, or notifications, therefore promoting prompt payments. Its aim is to streamline debt recovery for companies so they may concentrate more on operations than on payment chasing.
Company Name: Make My Payment
Founder: Vijay Nihalchandani
Product: Automated payment reminder App
Highlights:
1. The program saves companies time and effort by automating the process of reminding consumers with past-due balances of payments.
2. Using calls, SMS, and alerts, it reminds consumers of their outstanding payments, therefore providing a range of contact channels.
3. Automating follow-up lets companies concentrate on other operational chores instead of chasing money.
4. Mostly targeted at small companies, independent contractors, and service providers dealing with unpaid or delayed bills, Target Audience
5. The app is a hassle-free debt recovery fix since it runs without calling for human efforts.
6. Designed to be ease of use, this helps companies to link the app with their current payment systems.
Pitch Details
Ask: ₹30 Lakhs for 3% Equity (Valuation: ₹20 crores).
Deal: After negotiations deal couldn’t happen
Investors: NO DEAL
Conclusion:
Make My Payment on Shark Tank India’s pitch closed without any investment secured. The sharks voiced doubts about the app’s feasibility and efficiency even if it may automate and simplify debt recovery for companies. Their worries included clients may readily ignore or disable the automated reminders, therefore compromising the value proposition of the program. Furthermore, a decision not to invest resulted from a lack of a robust business strategy and ambiguity on its long-term survival. In the end, the pitch underlined the need of attending to issues about consumer behavior and making sure the answer is really effective before looking for funding.
