Ashish Lath’s AI startup SaveSage secured a Rs 4 crore deal for 9% equity on Shark Tank India Season 5, but post-episode backlash has flooded app stores with 1-star reviews over its paywall. The Gurugram founder’s pitch transformed initial shark skepticism into enthusiasm, revealing how he claimed 350 domestic flights, 80 international trips, and Rs 15 lakh jewellery – all via credit card rewards over 10 years.
Lath, formerly Kunal Bahl’s executive assistant, pitched SaveSage as an AI tool matching users’ spending to optimal credit cards and maximizing reward points. With India’s 11 crore cards averaging 1.5 per user, he sought Rs 1 crore for 1% equity (Rs 100 crore valuation). Anupam Mittal dubbed it a “naya totka” (new gimmick), but Lath’s 23% returns on spending flipped the narrative. A live Dubai flight challenge saw Aman Gupta concede: “Ashish Lath 100, Aman 0.”
Sharks Namita Thapar, Kunal Bahl, Anupam, and Mohit united for Rs 4 crore at 9% equity (Rs 44.44 crore valuation), praising the subscription model’s three revenue streams. Bootstrapped since April 2024 with Rs 6.8 crore raised, SaveSage holds Rs 3.5 crore cash against Rs 30 lakh monthly burn.
Episode fallout hit hard. Users encountering the paid SaveSage Club bombarded Play Store and App Store with 1-star ratings. Lath tweeted: “I clearly communicated it’s a paid platform during the pitch.” He suspects competitor sabotage: “Experts say there may be a paid campaign by bigger players to drop our rating.”
Aman had opted out, citing Instagram reels as alternatives, but the deal validated SaveSage’s edge in India’s booming Rs 2 lakh crore credit card rewards market. The controversy underscores startup realities: viral fame accelerates growth but invites rivals’ dirty tricks.
