Ambreen Bilal and Mehwish Shehzad, the founder and co-founder of Tre Cycle, appeared in Shark Tank Pakistan Episode 7 and secured Rs50 lacs in funding for 20 per cent equity after initially pitching for Rs50 lacs for 5 per cent equity.
The shark Faisal Aftab opted out, while the other sharks were impressed and offered to each take 5 per cent equity, making a total of 20 per cent equity, which was negotiated into the final deal.
Tre Cycle pitch
Ambreen Bilal and Mehwish Shehzad explained that Tre Cycle is a waste management and recycling company. They aim to manage waste efficiently, create jobs, promote a circular economy, tackle climate change and global warming, and generate resources in various forms, including art or other recycled products.
The company has trained collectors who gather garbage door-to-door to ensure that recyclables are not damaged.
Ambreen Bilal and Mehwish Shehzad mentioned that they identified a gap in the market for this business and seized the opportunity.
Explaining the use of funds, the company’s CEO said that the amount would be used for vehicles, warehouses, and a crusher machine to increase profitability.
The sharks asked about their revenue, to which Ambreen revealed that they generated revenue of 60 lacs in 2022, which was at break-even with no profit and no loss. In 2023, they made a revenue of 75 lacs with a profit margin of 25 per cent. The projected revenue for 2024 is 1.5 crore.
Ambreen Bilal and Mehwish Shehzad, the founder and co-founder of Tre Cycle, demanded Rs50 lacs for 5 per cent equity.
Faisal Aftab stated that he was out of the project because he lacked expertise in this area and could not add value to it. However, the other sharks expressed interest and proposed participating with 20 per cent equity, which Ambreen Bilal and Mehwish Shehzad accepted after negotiations.
Pitch overview
- Pitcher:Ambreen Bilal and Mehwish Shehzad
- Ask: Rs50 lacs for 5 per cent equity
- Business: Tre cycle
- Result: Both sides agreed on Rs50 lacs for 20 per cent equity
Social media reaction Shark Tank Episode 7
People loved the pitch and, in general, enjoy Shark Tank. They believe it is a great educational show that Pakistan needs, and they desire longer episodes.
