* Strategic acquisition of Globalise will enable partners to service retail investors to invest in global products via fractional investments.
* The acquisition of Globalise will add fractional stocks and ETF to its product offering
* Kristal.AI sees tremendous opportunity in global investing. Kristal.AI user base grows 7x to 30,000+ users in 2021 and AUM stands at US $ 400 mn
Kristal.AI, a digital-first global private wealth management platform, today acquired global investment platform, Globalise which delivers access to US stocks, ETFs, and ETF baskets for Indian investors. Together they complement each other with Kristal.AI being strong in institutional products like pre-IPO deals, hedge funds and VC funds for the affluent and HNI segment and Globalise offering stock and ETF investing with no minimum requirements for the affluent and retail segments.
Kristal.AI has US $400 million of assets under management and its user base has grown 7x in calendar year 2021 to over 30,000. Since its inception in 2016, Kristal.AI has been providing access to premium products and advisory services to institutional and accredited investors across 20+ countries. Strategic acquisition of Globalise will enable retail investors to invest in global products via fractional investments.
Indians invested more than US $4 billion in global markets in the last five years. This growth momentum is expected to continue as more players enter the market. Most banks and broker networks in India have a large base of retail clients who typically prefer DIY (Do-it-yourself). With Kristal.AI’s advisory model, this presented a limitation. Globalise, with its avenues for fractional ownership of stocks, ETFs, and stock baskets will now assist in democratising private wealth management. Kristal.AI can better cater to this large segment of DIY investors and further help in asset allocation and wealth planning.
Speaking on the development, Kristal.AI’s Founder and CEO, Asheesh Chanda said, “Today Kristal.AI enjoys a leading position in 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 acquisition 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. We see tremendous opportunity in global investing and growth via partnerships will continue to remain an important element of our growth strategy.”
“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 & Co-founder of Globalise.
The customers and partners of Globalise will not experience any change in pricing or product. The entire operating team of Globalise has been retained and continues to operate from their respective locations. Over the next few months, Kristal.AI and Globalise teams will work closely to integrate product flows and customer accounts.
Kristal.AI is a digital-first private wealth advisory and fund management group, serving affluent clients globally to meet their varied investment needs. Their goal is to make investments accessible, efficient, and hassle-free by bringing together the best of Data Science, Artificial Intelligence, and Human Expertise. They unlock global investment opportunities for the mass affluent and HNI investors, through association leading wealth managers & banks. Kristal.AI’s RM App lets partners initiate and manage their clients' global investment journey and also use their advisory algorithms to identify the most suitable investments to meet their clients' evolving financial goals and investment appetite. The diverse team comprises 130+ people, backed by a strong and supportive management team with extensive work experience in JP Morgan, Citibank, Merrill Lynch, Standard Chartered, BNP Paribas, Yahoo, Cognizant, and IBM Security, in the areas of Fund Management, Trading, Sales & Advisory, & Technology.