Pantomath Financial Services Group announced on Tuesday that it has acquired a 75% stake in global deal-making marketplace, fundgini.com, for an undisclosed amount. Founded in 2020 by Shashank Pradhan, fundgini operates as a global marketplace catering to dealmakers such as investors and startup founders. The platform utilizes AI-based deal matching and personalized AI bot social media integration to connect stakeholders with the right deals.
Fundgini’s Impressive Reach and Offerings
Fundgini facilitates discussions around various deals, including debt financing, equity funding, and mergers and acquisitions. The platform has an estimated 50,000 individuals from the global startup ecosystem actively engaging. The marketplace offers an array of features like deal rooms, video pitches, web series, and awards to streamline dealmaking processes.
Pantomath- Vision for the Acquisition
Mahavir Lunawat, the Managing Director of Pantomath, expressed his thoughts on the acquisition. He stated that the Pantomath team’s focus in the next phase will be on strengthening the platform, raising awareness about its capabilities within the ecosystem, and facilitating seamless networking for investors and fund seekers. The goal is to enhance overall deal volume and momentum through strategic enhancements.
Pantomath- Growing Presence in the Financial Services Sector
In 2013, Mahavir Lunawat and Madhu Lunawat established Pantomath. The company positions itself as a fast-growing merchant banker. It is supported by fund management and distribution verticals. Recently, the Mumbai-based financial services group expanded its offerings into wealth management, fintech, stockbroking, and distribution.The company exemplifies its expansion through its stake acquisition in Asit C Mehta Financial Services Limited.
M&A Trend in the Indian Startup Ecosystem
The acquisition of fundgini.com by Pantomath aligns with the current trend of increasing mergers. According to H1 2023 data, the enterprisetech sector dominated the M&A charts, with fintech securing the second position. India’s fintech market, fueled by over 4,200 funded fintech startups, continues to grow and is projected to reach an impressive $2.1 trillion by 2030.
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