Statement from HealthifyMe Regarding Pandora Papers

Certain media reports on Pandora Papers have falsely claimed HealthifyMe Cofounder & CEO Tushar Vashisht owning shell companies or Singapore hold-cos with connections to Politically Exposed Persons.

We wish to clarify that these stories are inaccurate and have grossly misrepresented the facts. Presenting the facts below for accurate reporting:

Facts:

1. Tushar is a minority shareholder in HealthifyMe India’s (HealthifyMe Wellness Pvt Ltd) parent company called HealthifyMe Pte Ltd which he co-founded. HealthifyMe Pte Ltd is owned by reputable global institutional investors like Khosla Ventures, Leapfrog, Inventus, Chiratae, amongst other shareholders.
2. Tushar has no shareholding (and has never had any shareholding, directly or indirectly) in Lang Capital Fund, AsiaCiti Trust or Atlas Asset Management or other such companies mentioned in the article.
3. Outside HealthifyMe Pte Ltd — Tushar has no shareholdings in any Singapore Company for that matter.
4. Lang Capital Fund (LCF) specifically has a 2% investment/shareholding in HealthifyMe Pte Ltd. It was an investment accepted by the company after following all applicable laws and KYC as a part of its Series B fundraise in 2018.
5. At the time of taking investment from LCF in 2018 — LCF was a publicly listed trust on the SGX and met all compliance and KYC requirements for investment in HealthifyMe — with no known PEP risk.
6. HealthifyMe was not aware that Lang Capital Fund has any risk associated from a PEP (Politically Exposed Person) standpoint. The company is still unaware of it and intends to further investigate it.

HealthifyMe is one of India’s leading startups and we have always fully abided by all laws and regulations. The company has always been honest and transparent in its dealings and has held a high ethical bar in its conduct and principles.

We request all to report on the matter in the light of the above facts.