Funding · Financial Services
Save Sage raises ₹4 crore on Shark Tank India
By Startup Enthusiast ·
- Date
- Company
- Save Sage
- What it does
- Personal finance platform for credit cards
- Kind
- Funding
- Amount
- ₹4 crore
- Stage
- seed
- Sector
- Financial Services
What they do
Save Sage helps users choose credit cards, track reward points, and redeem them for travel and shopping
What happened
It secured ₹4 crore from Anupam Mittal, Kunal Bahl, Mohit Yadav, and Namita Thapar for 9% equity
Why it matters
Founder Ashish Lath claims his method gave him 430+ free flights and 23% value back on spending
The details
- Save Sage is a personal finance platform that helps users choose credit cards and track reward points.
- The company raised ₹4 crore on Shark Tank India Season 5.
- Founder Ashish Lath built the platform to solve the problem of using credit card reward points.
- The initial ask was ₹1 crore for 1% equity, valuing the company at ₹100 crore.
- The final deal was ₹4 crore for 9% equity, giving a valuation of about ₹44.4 crore.
- Investors are Anupam Mittal, Kunal Bahl, Mohit Yadav, and Namita Thapar.
- Aman Gupta declined to invest, citing information available online.
The bigger picture
- India has over 11 crore active credit cards, showing a large potential user base.
- Ashish Lath claimed his method got him 430+ free flights, 100 hotel nights, and ₹15 lakh jewellery.
- He also claimed 23% value back on spending, highlighting the platform's value proposition.
About the business
- Save Sage is a personal finance platform.
- It helps users choose credit cards based on their spending habits.
- Users can track their reward points from multiple cards in one place.
- The platform helps redeem points for travel and shopping.
- It aims to maximise the value users get from their credit card spending.
The deal
- Type
- funding
Investors
- Anupam Mittal (investor) — Shark on Shark Tank India, founder of Shaadi.com.
- Kunal Bahl (investor) — Shark on Shark Tank India, co-founder of Snapdeal.
- Mohit Yadav (investor) — Shark on Shark Tank India, founder of Minus30.
- Namita Thapar (investor) — Shark on Shark Tank India, executive director of Emcure Pharmaceuticals.
Founders
- Ashish Lath, Founder
About Save Sage
- Product
- Mobile app providing credit card and travel loyalty rewards tracking, optimization, and recommendations
- Customers
- Credit card holders seeking to maximize rewards and optimize travel loyalty benefits
- How it makes money
- B2C fintech app with revenue from partnerships and premium features for loyalty optimization
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