Startup to Scaleup: Spotlight on GrowthPal that aims to reinvent M&A deal sourcing

In the latest episode of Startup To Scaleup, we put the spotlight on GrowthPal, a company that aims to transform M&A deal sourcing to help startups grow inorganically. Editorji's Avni Raja interviewed Maneesh Bhandari, CEO and Co-founder of GrowthPal, to discuss the journey of the company and its future plans.

What is GrowthPal

Founded in 2020, GrowthPal is a data-driven M&A deal sourcing platform. The company's primary aim is to facilitate accelerated inorganic growth through mergers and acquisitions.

How does GrowthPal work

In his conversation with editorji, Bhandari explained how GrowthPal operates, stating that they initially focused on working with buyers. He added that the company utilises data-driven methods in the first stage to track companies. In the second stage, it employs tech-enabled screening processes. Finally, in the third stage, target companies are evaluated for merger and acquisition 'intent'.

When asked about the scale of GrowthPal's business, Bhandari revealed that the company's reach is evidenced by its service to approximately 85 buy-side clients thus far.

India’s M&A market

When asked about India's M&A market, Bhandari said that though M&A activity has risen in the last 2-3 years, the overall M&A activity remains relatively low in India. However, he also expressed confidence that there was a large opportunity in small and mid-sized M&As. It is in this context that Bhandari added, 'GrowthPal's focus is on small to mid-sized M&A deals, and there's a significant opportunity in this segment.'

Bhandari also discussed the current situation on Deal Street. He mentioned a noticeable increase in demand in the startup M&A space, with a notable surge in activity. Despite the challenges faced in 2023, he noted that the market has become more realistic, with strong demand observed from both buyers and sellers.