Ace2Three invests in real-money fantasy sports venture

Exclusive Leading online rummy website Ace2Three will be investing around one crore rupees in a soon to be launched fantasy sports portal Fan Figh🏅t (operated by WCFN Solutions Pvt. Ltd.).

As per Registrar of Companies (ROC) filings, Deepak Gullapalli, the founder and CEO of Head Infotech Pvt. Ltd., the company that operates Ace2Three, has been allotted 2,50,000 Series𝓡 A Preference Shares in Gurgaon-based WCFN Solutions Pvt. Ltd on 27th April, 2017.

Gullapalli has paid a total sum of twenty-five lakh rupees for tꦆhe allotment of shares, as per the ROC filings. Gullapalli, it is learnt, is not acting in his personal capacity and has made the in🦩vestment with the approval of Head Infotech and its new majority shareholders, Canada-based Clairvest Group.

It is also understood that Head Infotech will be inves♑ting a total sum of around one crore r🦄upees for a total stake of around 10% in WCFN Solutions. Head Infotech will be sharing its expertise and knowledge of the online skill games industry to Fan Fight.

The Fan Fight App was a hea💃d-to-head fantasy gaming mobile application that was launched in December 2016. However, the app has been presently withdrawn and it is believed that a new draft-based mobile fantasy app will be launched by the company soon. As per company records, WCFN Solutions is promoted by Gurgaon-based Akhil Suhag and his brother Akshay ♍Suhag.

Interestingly, Gullapalli’s share allotment in WCFN Solutions came just the announcement of the acquisition of majority stake in Ace2Three by a consortium of foreign buyers led by Canadian private equity firm Clairvest Group. The Clairvest-led consortium had purchased majority stak🦂e in Ace2Three for around $74 million.

Gullapalli declined to c🐻omment on the story and did not ൩confirm or deny the developments when he was reached out for his comments.