Total Merchant Resources Shark Tank Net Worth 2023
Total Merchant Resources Shark Tank Net Worth
The valuation of Total Merchant Resources was $1 million when it appeared on Shark Tank. The net worth of Total Merchant Resources is $5 million as of 2023.
TMR co-founders Jason Reddish and Val Pinkhasov have a net worth of 2.5 Million USD as of 2023.
Total Merchant Resources (TMR) appeared on the Oct. 25, 2013, edition of the popular venture funding game show Shark Tank and walked away with $200,000 in capital and a new celebrity business partner.
Since appearing on Shark Tank, Total Merchant Resources has experienced tremendous growth and success. They have secured additional funding and partnerships, leading to an estimated net worth of 5 Million USD as of 2023.
What are Total Merchant Resources? Who are the Founders of Total Merchant Resources?
Total Merchant Resources is a company that provides working capital loans to small businesses for various purposes, such as repairs, short-term payroll needs, growth, inventory, and more.
They specialize in the merchant processing industry, helping businesses set up the ability to accept credit and debit card payments.
They also offer additional services that may be beneficial to businesses, not just those that have been on Shark Tank.
Additionally, the company is factoring credit card receivables, which means they purchase future credit card receivables from a company at a discounted rate and pay them in cash upfront.
This allows companies to obtain operating capital without needing a bank loan, which can be especially beneficial for businesses with a high volume of credit card transactions.
The founders of Total Merchant Resources are Jason Reddish and Val Pinkhasov, both mortgage industry veterans.
Total Merchant Resources Shark Tank Pitch
During Season 5 Episode 6 of Shark Tank, the founders of Total Merchant Resources, Jason and Val, presented their business and asked the Sharks for $200,000 in exchange for 20% equity, valuing the company at $1 million.
They explained their unique funding options for small businesses and how they collect loan payments through credit card processing, which enables them to acquire 74% of their client’s credit card processing business.
Although the Sharks raised concerns, Daymond and Kevin showed interest in working with the company. Kevin was willing to invest $200,000 but wanted a 50% stake in the company.
Eventually, Jason and Val made a counter-offer of $250,000 for 25%, which Kevin rejected.
He promised to quadruple their annual earnings if he partnered with them, and in the end, Jason and Val agreed to Kevin’s original offer of $200,000 for 50% of the company.
After the episode aired, Total Merchant Resources experienced a significant 500% increase in business. They expanded their services beyond credit card receivables to include ACH payments and point-of-sale systems for small businesses.
The partnership with Kevin O’Leary opened up new opportunities for the company, and they grew to become a global business serving entrepreneurs worldwide.
As of November 2021, Total Merchant Resources reported $5 million in yearly sales, indicating a steady growth trajectory for the company.
What is the Net Worth of Total Merchant Resources?
Jason and Val appeared on Shark Tank Season 5 Episode 6 and asked for $200,000 for 20% of their company, valued at $1 million at the time.
They later accepted an offer from Kevin O’Leary for $200,000 for 50% of the company. Since then, the company has grown, and its current valuation is unknown, but we can expect it to be higher than $1 million as the company has grown.
Who are the Competitors of Total Merchant Resources?
Total Merchant Services’ top competitors are; Capital Processing Network, Cardservice International, BancCard, Electronic Merchant Systems, PaymentSense, International Bancard, Gravity Payments, and UBC Bank Card.
Total Merchant Resources FAQS
What are Total Merchant Resources?
Total Merchant Resources is a company that lends working capital to small businesses for repairs, short-term payroll needs, growth, inventory, and other purposes.
Who founded Total Merchant Resources?
Jason Reddish and Val Pinkhasov founded total Merchant Resources.
How much were they seeking in the Shark Tank?
The duo asked for $200,000 for 20% of the company.
Did they get the deal from the Sharks?
They got it and signed the deal with Kevin.
How much was the deal?
Kevin offered $200,000 for 50% of the company.
What Happened to Total Merchant Resources after shark tank?
Since appearing on Shark Tank, Total Merchant Resources has witnessed a 500% spike in business.
Beyond credit card receivables, the pair of entrepreneurs have expanded their lending program to incorporate ACH payments and Point of Sale systems for small companies.
Is Total Merchant Resources still in business?
Yes, it is a thriving company with $5 million yearly sales as of 2021.
Where are Total Merchant Resources offices located?
Total Merchant Services, LLC is a company that works in the Activities Related to Credit Intermediation industry and is based in Woodland Hills, California.
When was Total Merchant Services featured on Shark Tank?
Total Merchant Resources was featured in Episode 6 of Season 5 on October 25, 2013.
How can they contact Total Merchant Services?
The best way to contact Total Merchant Services is through their website at www.totalmerchantresources.com or email them at [email protected]
Where is their main office located?
Total Merchant Resources main office is located at 377 Hoes Lane, Suite 240 Piscataway, New Jersey 08854.
What is the net worth of Val Pinkhasov?
Val Pinkhasov’s net worth is unavailable.
What is the net worth of Jason Reddish?
Jason Reddish’s net worth is unavailable.
Who is the CEO of Total Merchant Resources?
The CEO of Total Merchant Resources is Jason Reddish.
What is ownership status of Total Merchant Resources?
Total Merchant Resources is a privately owned company.
When was Total Merchant Resources founded?
Total Merchant Resources was founded in 2009.
