Diversified financial services firm Pantomath Financial Services Group on Tuesday said that it has bought 75% in AI-driven deal platform fundgini.com for an undisclosed amount.
With this strategic acquisition, Pantomath looks to mobilize its diversified investment banking services strengths and facilitate the deal acceleration in the deal ecosystem, the group said in a statement.
“There exists a synergy between our extensive expertise in investment banking and the global marketplace for dealmaking fundgini.com. We believe that through the online platform of fundgini.com we would be able to bring stakeholders together on a globally accessible platform,” said Mahavir Lunawat, group founder and managing director, Pantomath Financial Services Group.
Fundgini as a platform brings together investors, fund seekers, investment bankers, and influencers for funding, and mergers and acquisitions. The platform, which has over 50,000 users, is used for various deals including debt financing, equity funding, and mergers and acquisitions.
Fundgini was founded by Shashank Pradhan. Currently, more than 700 deals feature on the platform, which facilitates deal rooms, video pitches, web series, and awards to increase activity in the deal landscape.
Lunawat said that the group will now focus on strengthening the platform and creating more awareness about this platform in the ecosystem. Pantomath’s team will also help investors and fund seekers to network and accelerate the deals seamlessly, and increase overall deal volume and momentum, he added.
Pantomath Financial Services Group, which was founded by Madhu Lunawat and Mahavir Lunawat, provides financial services such as investment banking, fund management, mergers and acquisitions. The group recently expanded into wealth management, fintech, stock broking, and distribution by acquiring a significant stake in Asit C Mehta Financial Services Limited, a 40-year legacy created by Deena Mehta and Asit C Mehta.
The group also operates a pre-initial public offering (IPO) focused fund, ‘India Inflection Opportunity Fund’, that has a target of raising Rs 500 crore including a green shoe option of Rs 250 crore. The category-II alternate investment fund, which aims to invest in diverse pre-IPO opportunities with a focus on India’s rising economy, marked its first close in April 2022.