Sahil Bansal and Mehakdeep Singh: Founder of Fitelo -Entrepreneur
Sahil Bansal and Mehakdeep Singh:
Journey from Struggle to Innovation
Sahil Bansal and Mehakdeep Singh, childhood friends, battled
obesity for years. Their struggles with weight and the emotional toll it took
on them made them deeply passionate about sustainable, natural weight loss.
After years of pursuing their careers separately, fate brought them together
again at a networking event in 2019. They reconnected over their shared
experiences and realized they had a common goal—helping others overcome obesity
through a holistic and personalized approach. This vision laid the foundation
for Fitelo.
Fitelo’s Unique Approach to Wellness
Unlike traditional fitness apps that focus only on diet
plans or exercise routines, Fitelo goes a step further. The app integrates
personalized meal plans, fitness programs, and psychological support to create
a well-rounded weight loss journey. It tailors recommendations to individual
needs, ensuring that users not only lose weight but also develop healthier
habits that last a lifetime. The goal is to make weight management easy,
effective, and enjoyable for everyone.
The Big Moment on Shark Tank India
Sahil and Mehakdeep stepped onto the stage of Shark Tank
India Season 4, Episode 43, with a bold pitch. They asked for ₹1.5 crore in
exchange for 0.5% equity, valuing Fitelo at an impressive ₹300 crore. Their
confidence caught the attention of the sharks, but their valuation raised
eyebrows. Anupam Mittal, amused by their ambitious ask, quipped, “Your
valuation is obese!”
From Rejection to Redemption
The journey to Shark Tank was not an easy one for Fitelo.
The company had applied twice before but was rejected when their annual revenue
was just ₹1 crore and later ₹4 crore. This time, they returned with a stronger
business, boasting a projected revenue of ₹100 crore. Their growth and
persistence made a strong impression on the investors, proving that their model
had potential.
An Emotional Connection with the Sharks
As the discussion progressed, the pitch took an unexpected
emotional turn. Kunal Bahl shared his painful childhood experience of being
bullied for his weight, revealing how people called him “Mota” instead of his
name. Namita Thapar also opened up about facing body shaming as a child, which
led to emotional eating struggles. Their personal stories resonated deeply with
the Fitelo founders, reinforcing the importance of the work they were doing.
Challenging the Competition
Despite its uniqueness, Fitelo was compared to existing
fitness apps like HealthifyMe. Anupam Mittal acknowledged that Fitelo’s focus
on the psychological aspects of weight loss was a differentiator, but he
questioned how they planned to stand out in a competitive market. The founders
confidently explained how their app offered more than just diet and exercise—it
provided a complete lifestyle transformation.
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The Power of Retention
One of Fitelo’s strongest selling points was its high
customer retention rate. Vineeta Singh noted that users were not only signing
up but staying engaged, which indicated real value in the product. Kunal Bahl
referred to this as the “smile curve,” a sign that customers were satisfied
with the service and finding success in their weight loss journeys.
Financials Under the Microscope
When asked about Fitelo’s financial health, the founders
revealed that their revenue had reached ₹110-120 crore. However, they admitted
that they were still working toward profitability. Their honesty about the
challenges ahead impressed the sharks, showing that they had a clear
understanding of their business model and its future growth potential.
The Sharks Weigh In
Despite Fitelo’s strong numbers, some investors, including
Kunal Bahl, Anupam Mittal, and Ritesh Agarwal, decided to pass. They believed
the company was in a transition phase and might undergo significant changes in
the coming years. However, Vineeta Singh saw promise and made an offer, though
at a lower valuation of ₹75 crore.
A Winning Deal
The real breakthrough came when Namita Thapar teamed up with
Vineeta Singh. Inspired by the emotional connection and the potential of
Fitelo’s business model, they made a joint offer—₹1.5 crore for 1% equity and a
1% royalty until the investment was recovered. This deal, although lower than
the founders’ original valuation, was a huge win for Fitelo and set the stage
for its future expansion.
Expanding Beyond an App
During negotiations, Namita suggested that Fitelo could
explore expanding into wellness supplements, a move that could complement their
existing offerings. The founders were open to the idea, understanding that
diversification could help them scale even further. This flexibility and
willingness to evolve made their business more appealing to the investors.
A Step Toward a Healthier India
The heart of Fitelo’s mission is not just business growth
but a larger social impact—helping India combat obesity. By providing a
sustainable, science-backed weight loss solution, they aim to transform lives
and make fitness accessible to everyone. Their journey from personal struggles
to building a multimillion-dollar company is a testament to their dedication to
this cause.
Lessons from Fitelo’s Journey
Fitelo’s success story highlights the power of persistence,
innovation, and a deep understanding of customer needs. From facing rejections
to securing a game-changing investment, Sahil and Mehakdeep proved that with
the right vision and execution, even the toughest challenges can be overcome.
A Bright Future Ahead
With the backing of two influential investors and a growing
user base, Fitelo is poised for significant expansion. Their journey on Shark
Tank India was just the beginning of what promises to be an inspiring
transformation in the health and wellness industry. As they continue to refine
their approach and scale their business, Fitelo is set to become a leader in
holistic fitness solutions.
Timeline for story
Childhood: Sahil Bansal & Mehakdeep Singh struggle with
obesity.
2019: Reconnect at a networking event and conceive Fitelo.
First Shark Tank Attempt: Rejected with ₹1 crore revenue.
Second Shark Tank Attempt: Rejected with ₹4 crore revenue.
2024: Return with ₹100+ crore revenue for Shark Tank India
Season 4.
Pitch Date: Ask ₹1.5 crore for 0.5% equity (₹300 crore
valuation).
Sharks' Reactions: Anupam jokes about valuation; emotional
connections shared.
Offer & Deal: Namita Thapar & Vineeta Singh offer
₹1.5 crore for 1% equity + 1% royalty.
Future Plans: Expansion into wellness supplements &
scaling Fitelo.
