Kristal Advisors Pvt. Ltd, which runs Kristal.AI, a Digital asset management platform has acquired global investment platform Globalise for an undisclosed amount.
With this strategic acquisition, Kristal.AI will enable retail investors to invest in global products through fractional exposure.
Globalise will help democratize private wealth management and Kristal.AI is expected to cater to a larger segment of DIY investors and help further in asset allocation and wealth planning, the company said in a statement.
According to the company, Globalise’s partners and customers will continue to experience similar pricing or product and over the next few months, the two companies will work together to integrate product flows and customer accounts.
The New Delhi-based Globalise was founded in 2021 by Vikas Nanda and Viraj Nanda, It enables clients to access international financial markets and gives investors a choice of approximately 5,500 stock and exchange-traded funds (ETFs).
“Globalise was created with a vision to make every Indian investor access global products. The merger helps us deliver access to premium global products. We couldn’t have found a better home than Kristal.AI for our customers, partners, and team to continue living our vision”, said, Viraj Nanda, CEO, and Co-Founder of Globalise.
In November last year, Globalise had raised an undisclosed amount in seed funding round from Whiteboard Capital and Credit Saison, and other investors.
Headquartered in Singapore Kristal.AI was founded in 2016 by Asheesh Chanda, Vineeth Narasimhan, and Vivek Mohindra, It is a digital-first private wealth advisory and fund management group that provides institutional and accredited investors in over 20 countries access to premium products and advisory services.
“Today Kristal.AI enjoys a leading position in the global investment space and is a preferred choice for the affluent segment. The acquisition of Globalise is complementary as it will help us offer stock and ETF investing with no minimum requirement for the affluent and retail segments. The buyout will help us penetrate the retail segment and deliver on our mission to bring access to best-in-class products and advisory within the reach of everyone”, said, Asheesh Chanda, Founder and CEO, Kristal.AI.
In January 2020, Kristal.AI had raised $6 million in its Series A funding round from Chiratae Ventures and Desai Family Office.
Kristal.AI is an award-winning digital private wealth platform, licensed and operational in Singapore, Hong Kong, India, and the Middle East. They unlock sophisticated investment opportunities for the underserved mass affluent investors and provide a genetic advisory algorithm that helps first-time investors pick the most suitable portfolios (branded as Kristals) according to their financial goals and risk profiles.
Their diverse team comprises 130+ people, backed by a strong and supportive management team with past work experience in JP Morgan, Citibank, BNP Paribas, Yahoo, Cognizant, and IBM Security. They are also backed by a leading VC in India – Chiratae Ventures (formerly IDG Ventures).
Globalise is India’s first platform for guided global investing. Through Globalise, customers can access international financial markets and get the necessary guidance to make informed decisions to construct a geographically diversified portfolio. The wealth management platform enables direct investment in a choice of 4,000 international stocks, funds and ADRs.
It provides a cloud-based, integrated digital ecosystem for clients to collaborate with their existing advisors and extend their trusted relationships to build international portfolios. Globalise is led by individuals with strong experience in the financial services industry and operates out of New Delhi and New York.