Biography of Vijay Nihalchandani: Founder & CEO of Make My Payment
Rise of Vijay Nihalchandani: From Influencer to Entrepreneur
Building a Social Media Empire
Vijay Nihalchandani is a well-known influencer with a
massive following of over 940,000 on Instagram. He creates infotainment
content, focusing on business and productivity hacks. His engaging content has
built a strong community that trusts his insights on various topics, helping
him establish himself as a credible voice in the business space.
Venturing into Entrepreneurship
Beyond his success as a content creator, Vijay is also a
passionate entrepreneur. In 2016, he founded Travinities, a hotel revenue
management company. Over the years, his company has grown to manage over 300
hotels and 100 Airbnbs, helping them optimize their pricing, increase bookings,
and improve overall profitability.
The Birth of Make My Payment
With a strong background in business and finance, Vijay
ventured into the fintech sector by launching Make My Payment. This app was
designed to help businesses track and recover payments through automated
reminders, reducing the hassle of manual follow-ups. It aimed to assist small
businesses in managing their finances more efficiently.
A Bold Pitch on Shark Tank India
In Season 4 of Shark Tank India, Vijay presented Make My
Payment along with his wife, brother, and business partner. He sought an
investment of ₹30 lakh in exchange for 3% equity, valuing the company at ₹10
crore. His pitch highlighted the app’s ability to send automated reminders to
debtors, ensuring timely payments.
Mixed Reactions from the Sharks
While Vijay was confident about his business model, the
sharks were not entirely convinced. Namita Thapar expressed skepticism, stating
that defaulters could simply block the reminder calls. Anupam Mittal outright
dismissed the idea, suggesting that Vijay would be better off running a
street-side stall.
Aman Gupta Questions His Commitment
During the pitch, Aman Gupta, co-founder of boAt Lifestyle,
asked Vijay if he had other ventures. Vijay revealed that apart from his
fintech startup, he also ran a successful hotel booking business and earned
around ₹5 lakh per month from Instagram. This raised concerns about his focus
and dedication to Make My Payment.
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A Harsh Reality Check
Anupam Mittal further criticized Vijay’s business, pointing
out that only 200 out of 3,500 users were paying customers. This meant the app
was generating just ₹30,000 per month. Anupam argued that such low earnings did
not justify the ₹10 crore valuation and advised Vijay to rethink his business
strategy.
No Deal Secured
Despite his efforts to defend Make My Payment, Vijay and his
team left Shark Tank India without an investment. The sharks were unconvinced
about the scalability and effectiveness of the business, with many believing it
lacked a sustainable competitive advantage.
The Challenges of Influencer-Founded Startups
Vijay’s experience on Shark Tank India highlighted the
challenges influencer-turned-entrepreneurs face when transitioning into
business. While social media fame can generate significant income, building a
successful company requires more than just an audience—it demands a solid
business model and a clear value proposition.
A Pattern of Tough Feedback
Vijay was not the first influencer to face criticism on
Shark Tank India. Previously, Gaurav Taneja, also known as Flying Beast,
pitched his protein brand but failed to secure a deal. This trend suggests that
while influencers can drive brand awareness, investors expect a deeper
commitment to long-term business growth.
Lessons from the Shark Tank Experience
Despite the rejection, Vijay’s appearance on Shark Tank
India provided valuable lessons. The feedback from experienced investors
offered insights into what it takes to build a scalable startup. It also
emphasized the importance of refining a business model before seeking external
funding.
Moving Forward with Travinities
Although Make My Payment did not receive investment, Vijay’s
core business, Travinities, remains successful. With a strong presence in the
hospitality sector, he continues to help hotels optimize revenue strategies.
This venture has already proven profitable, and he can leverage its success to
explore future business opportunities.
The Power of Social Media Influence
While his fintech startup faced hurdles, Vijay’s influence
on social media remains a valuable asset. His ability to engage and educate his
audience gives him a unique advantage in the business world. He can use this
platform to pivot, build new ventures, or strengthen his existing businesses.
Future Prospects and Business Growth
Vijay’s journey is far from over. Whether he refines Make My
Payment or embarks on a new entrepreneurial venture, his experience and
audience provide a strong foundation. His ability to adapt, learn from
setbacks, and leverage digital influence will shape his future success.
An Inspirational Journey from a Tier-2 City
Born and raised in Ujjain, a Tier-2 city in India, Vijay’s
story is one of perseverance and ambition. From creating content to building
businesses, he has demonstrated the power of self-made success. His journey
serves as an inspiration for aspiring entrepreneurs looking to break barriers,
innovate, and build something impactful.
Timeline for story
2016 – Vijay founded Travinities, a hotel revenue management
company.
2022 – He launched Make My Payment, a fintech startup.
2024 – Pitched Make My Payment on Shark Tank India Season 4
but did not secure a deal.
Present – Continues to grow Travinities and leverage his
social media influence.
