[Funding alert] MergerDomo raises $500K from multiple investors
Online investment marketplace MergerDomo will use the funding round to further enhance its technology infrastructure.
![[Funding alert] MergerDomo raises $500K from multiple investors](https://images.yourstory.com/cs/2/f02aced0d86311e98e0865c1f0fe59a2/startup-finance-1598536283044.png?mode=crop&crop=faces&ar=2%3A1&format=auto&w=1920&q=75)
, an online global tech-based investment banking marketplace, has raised $500,000 in a bridge round from existing investors including Godrej Industries Chairman and Managing Director Nadir B Godrej.
Founded in 2019, MergerDomo is a platform for investment banking, M&A, technology sourcing, debt and equity funding opportunities for SMEs and startups.
In this round of funding, MergerDomo has had participation from other individual investors, including industry veterans from sectors including auto, pharma, retail, and ESDM, the release noted.
The startup plans to utilise the fresh capital for strategic investments such as technology upgrades, moving from algorithm-based systems to AI/ML, team expansion, and marketing activities. The company plans to boost its tech-based offerings by developing advanced features to facilitate merger and acquisitions (M&A), private equity, debt, and JV transactions. MergerDomo already has in-house funding-related tech tools like the Quick Startup Algo-based Assessment Tool (QSAAT) to check a startup's funding readiness.
On the investment into MergerDomo, Nadir B Godrej said, “I am delighted to be a part of the MergerDomo growth story. MergerDomo provides a modern, tech-enabled and efficient solution to SMEs/startups for the challenges in their organic/inorganic growth journeys."
MergerDomo recently closed two startup funding deals in superfoods and wellness companies, bringing its total to five deals this year. On the consulting front, they have closed over 19 deals to date and have an SME deal flow of over $800 million on the platform.
Hormazd Charna, Founder and CEO, MergerDomo, said, “We want to be recognised as the most trusted one-stop algo-based platform that is helping startups and small and medium-sized enterprises (SMEs) to connect with the right investors and advisors. Companies are coming to us for the resources, advice and reach that we extend in deal-making. The fresh funds will help us to further strengthen our platform and significantly boost our ability to meet the expectations of our users.”
In the next three years, MergerDomo plans on growing its global footprint to 15 countries. The company currently has country representatives in the UK, Singapore, and South Korea.
Edited by Kanishk Singh