Single or co-inoculation of phosphate solubilizing bacterial and fungal strains (Burkholderia anthina and Aspergillus awamori respectively) was performed separately to assess their synergistic and antagonistic interactions and the potential to be used as bio-inoculants. Co-inoculation was found to release the highest content of soluble phosphorus (1253 ${mu}g;ml^{-1}$) into the medium, followed by single inoculation of fungal strain (1214 ${mu}g;ml^{-1}$) and bacterial strain (997 ${mu}g;ml^{-1}$). However, there was no significant difference between single inoculation of fungal strain and co-inoculation of fungal and bacterial strain in terms of the phosphorous release. The highest pH reduction, organic acid production and glucose consumption were observed in the sole A. awamori inoculated culture medium. According to the plant growth promotion bioassays, co-inoculation of the microbial strains resulted in 21% and 43% higher shoot and root growth of the mung bean seedlings respectively as compared to the respective controls. Therefore, co-inoculation of B. anthina and A. awamori showed better performance in stimulating plant growth than that in inoculation of each strain alone. However, assessment period of the present study being short, we recommend in engaging further experimentation under field conditions in order to test the suitability of the strains to be used as bio-inoculants.