Promoters of crowdfunding platform Desiredwings.com have acquired Catapooolt.com for an undisclosed sum. Both the brands will stay in the market post this acquisition, focusing on different segments of the crowdfunding industry.
By virtue of this acquisition, together Desired Wings and Catapooolt “stand as leaders and the largest crowdfunding platform” with various diversified successfully funded campaigns to its portfolio, a company release said.
“Post this acquisition, we have secured the leadership position in the industry and now with the combined strength of both the brands, we can grow faster and also help shape this industry,” Shabir Momin, co-founder, DesiredWings, said.
DesiredWings facilitates business idea validation and development, helps start-ups prefund their future products and services, enabling them to start and grow without capital investment or fund-raising against equity.
“I see a much larger and structured growth with a new vision which helps us together cover larger geographies and industry verticals,” Catapooolt Managing Director Satish Kataria said.
Catapooolt handholds entrepreneurs at different stages of their journey by bringing in other entrepreneurs and backing them to achieve the next milestone. “Currently, the international market size of crowdfunding is USD 32 billion.
Asia has a huge potential of start-ups and entrepreneurs delivering great innovations and concepts to the world. Fuelled by crowdfunding support, they can leapfrog to a higher growth trajectory,” DesiredWings Shabir Momin said.