Singapore-based digital private wealth management platform Kristal.AI has acquired India-based investment platform Globalise to bolster its suite of retail products.

The size of the deal was not disclosed.

Globalise offers access to US stocks, exchange-traded funds (ETFs), and ETF baskets for investors in India.

Kristal.AI said that the strategic acquisition would enable retail investors to invest in global products through fractional investments.

Kristal.AI founder and CEO Asheesh Chanda said: “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.”

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By GlobalData

Kristal.AI, which manages $400m in assets, provides access to premium offerings and advisory services to institutional and accredited investors across more than 20 countries.

The firm, founded in 2016, increased its user base to over 30,000 in the calendar year 2021.

Globalise CEO and co-founder Viraj Nanda said: “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.”

Kristal.AI and Globalise teams will work closely to integrate product flows and customer accounts in the coming month. The deal will not affect Globalise’s existing customers and partners.

Globalise’s entire operating team will continue to operate from their respective locations.

In 2020, Kristal.AI raised $6m in a Series A funding round to develop new personalised strategies and expand its operations into the Asia-Pacific and Middle East markets.