Digital private wealth platform provider Kristal.ai acquires a leading global investment platform Globalise to enhance its retail offering for customers. Neither company revealed any information regarding the valuation of this recently signed acquisition deal.
This strategic acquisition of Globalise will allow Kistal.ai’s customers to invest in global products through fractional investments.
By enabling fractional ownership of stocks, ETFs, and stock baskets, Globalise will serve to democratize private wealth management. Therefore, Kristal.ai will be able to serve the self-directed investors segment by assisting with asset allocation and wealth planning.
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Kristal and Globalise teams will collaborate over the coming months to integrate product flows and customer accounts.
Singapore-based digital investment platform Kristal.ai was founded by Asheesh Chanda, Vineeth Narasimhan, and Vivek Mohindra in 2016. The company’s platform gives HNI investors in Asia access to premium products and consulting services.
Kristal.ai has partnered with multiple wealth managers, banks, and family offices to offer its products and services in India. The company claims, in total, it manages assets with more than $400 million and has a customer base spread across over twenty countries.
Co-founder and CEO of Kristal.ai, Asheesh Chanda, said, “Today Kristal enjoys a leading position with the investors in the affluent segment. Globalise will help us penetrate the retail segment and deliver on our mission to bring access to best-in-class products and advisory within reach of everyone.”
Globalise is a United States-based global investment platform founded by Vikas Nanda, Vineet Nanda, and Viraj Nanda in 2019 and launched in 2020. The company’s platform allows customers to access foreign financial markets through the firm, which offers over 5,500 equities and exchange-traded funds (ETFs).
Globalise’s product’s simplicity has been a significant selling point for first-time overseas investors from India.
“Globalise was created with a vision to make every Indian investor access global products. The merger helps us deliver access to premium global products,” said CEO and Co-founder of Globalise, Viraj Nanda. He further mentioned that they could not have chosen a better place for their customers, partners, and team to carry on their mission than Kristal.ai.