Payments and API banking solutions company, Cashfree Payments has partnered with SonyLIV as the payments partner for the first edition of “Shark Tank India” show. The show’s importance in the country cannot be emphasized as India has 38,815 active start-ups as of date. Of these, 1,050 start-ups were launched in 2020. In the same year, start-ups raised $11.5 billion. By 2021-end, start-ups are projected to raise another $16-20 billion. And, all of this has happened and is set to happen, despite the pandemic. Cashfree Payments finds value in the collaboration, as its operations towards enabling businesses to digitize and grow by providing distinctive payments solutions resonate well with the format of Shark Tank. Similarly, the show presents golden opportunities to Indian startups and entrepreneurs to showcase their business models.
“It gives us immense pleasure to partner with Cashfree Payments for our first edition of Shark Tank in India. Our unique and valuable collaboration with Cashfree is sure to enhance the dynamic entrepreneurial ecosystem in the country. Being the payment partner for this edition of Shark Tank, we are happy to open that gateway for innovative minds to foster in synergy with Cashfree,” Ranjana Mangla, senior vice president and head, ad revenue, SonyLIV, Sony Pictures Networks India – Digital Business, said.
With over 50% market share, Cashfree Payments today leads the way in bulk disbursals in India with Cashfree Payouts. Recently, India’s largest lender, SBI invested in Cashfree, underscoring the latter’s role in building a robust payments ecosystem. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company’s products and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay. Apart from India, Cashfree products are used in eight other countries including the US, Canada and the UAE. “Shark Tank India show is a platform that recognises 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,” Akash Sinha, co-founder and CEO, Cashfree Payments, said.
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