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Cashfree Payments will be the official payments partner for Shark Tank India. This blog details our partnership and steps towards fostering innovation in India.
“Everyone has an idea, but it’s taking those first steps toward turning that idea into a reality that are always the toughest.”
These iconic lines were said by Daymond John on one of the most highly rated episodes of Shark Tank. Now, this decade-running reality T.V show is getting an Indian counterpart. In fact, it is set to air on SonyLIV from December 2021.
Shark Tank’s premise is to help many small businesses get funding from investors and secure business deals. Cashfree Payments has always been a big believer in facilitating innovations in the startup space.
So, we are pleased to announce that Cashfree Payments has tied up with SonyLIV to become the official payments partner for Shark Tank India!
Why Did We Partner With SonyLIV For Shark Tank India?
The premise of Shark Tank is in line with Cashfree Payment’s core values.
Fostering Innovation in the Startup Space
India has the 2nd largest startup ecosystem in the world with over 8000 players.
Here are some more staggering statistics:
- A whopping 38 startups have become unicorns in 2021.
- The startup ecosystem may witness a year-on-year growth of 12-15%.
This shows the immense opportunity for startups to grow, especially in India.
However, most startups need at least $50k in annual revenue to be sustainable for a long period of time. This is where initiatives like Shark Tank India come into the picture.
The platform provides a much-needed financial boost to these small businesses. It also encourages innovation, one of the core values of Cashfree Payments.
Akash Sinha, Co-Founder and CEO, Cashfree Payments said, “We are glad to partner with SonyLIV for the Shark Tank India show as it allows us to associate with a platform that recognizes and supports young entrepreneurs. This is in line with Cashfree’s philosophy of fostering innovation in the Indian business ecosystem and contributing to the Make in India initiative.”
“Cashfree values the passion of entrepreneurs towards their businesses and such examples of extraordinary spirit and aspirations. In fact, we believe that this association will benefit the country’s overall start-up ecosystem – celebrating entrepreneurship and creating a more favourable environment for start-ups to bloom,” he added.
Providing Support Through Payment Solution
While businesses start with ideas, they grow with the right payments solution.
Moreover, as a business grows, so does its payments needs.
A startup might need to:
- Accept payments from customers, sometimes through recurring bill models or payment links
- Disburse funds to partners, refunds to customers, salaries to employees, etc
- Offer Banking as a Service products like account creation, card issuance, etc
Now, Cashfree Payments provides a complete payments infrastructure for businesses ranging from startups to large enterprises. We aim to provide a powerful and scalable payments solution to growing businesses.
With over 50% market share, Cashfree Payments is a leader in bulk payments in India. As new startups enter the market, we aim to provide them with innovative and user-friendly payments solutions to grow their business without friction.