It targets HNIs, and NRIs in key overseas markets; expands global footprint into SE Asia, Nigeria & Ghana
FinTech BizNews Service
Mumbai, 20th September 2024: Stockal, a leading B2B2C global investing platform enabling Indian investors to access global markets, has announced the strategic acquisition of Acru, a company specializing in infrastructure solutions that facilitate investments in Indian financial products for NRIs and PIOs. Stockal operates under the regulatory purview of both the SEC and SEBI. This strategic move completes Stockal's cross-border investment ecosystem, empowering both Indian and global investors to seamlessly invest in each other's markets.
With this acquisition, Stockal now provides a complete solution for cross-border investments. Indian investors can easily access over 6,000 global securities, while non-resident Indians (NRIs) and foreign investors can invest in India’s thriving markets. Stockal has so far processed over INR 15,000 crore in transactions. The acquisition is expected to drive substantial growth, bringing in an additional INR 500 to 1,000 crore of new investment into India over the next 12 months.
Stockal is strategically expanding its global footprint, with the Acru acquisition expected to contribute approximately USD 1 million in revenue this year. The acquisition is being executed through an equity stock swap. The company already has a presence in key international markets, including the Middle East, Southeast Asia, and Africa. Its partnerships span across countries such as UAE, Qatar, Oman, and Saudi Arabia, with plans to launch in emerging economies like Indonesia, Malaysia, Vietnam, Ghana, and Nigeria by the end of this year. Stockal’s expansion strategy aims to capitalize on the immense opportunity in these markets, which together represent hundreds of thousands of potential investors.
“We are thrilled to welcome Acru into the Stockal ecosystem. This acquisition enables us to offer a truly holistic infrastructure for cross-border investing,” said Sitashwa Srivastava, Co-Founder & CEO of Stockal. “We can take the Acru infrastructure to global banks, brokerages, wealth managers and fintechs to offer a simplified process for NRIs and PIOs investing in India's dynamic market. This positions us to target a much larger audience, including the 30 million NRIs worldwide.”
Stockal has already opened over 150,000 investment accounts and processed nearly USD 2 billion in transactions. The company aims to reach USD 3 billion by the end of FY 2024-25. Acru, with its specialized infrastructure, complements Stockal’s ability to accelerate global market access, targeting markets where demand for investing in India is rapidly growing.
Gaurav Gulati, Founder and Managing Partner of Aroa Venture Partners shares his views saying, “With global investors increasingly focusing on Indian markets, we at Aroa Venture Partners believe Stockal’s cross-border expertise uniquely positions them to capitalize on this opportunity. The acquisition of Acru will further accelerate Stockal’s vision of becoming a truly holistic, borderless investment platform.”
The acquisition of Acru is projected to boost Stockal’s overall transaction volumes while also helping it get its asset base to over USD 5 billion by the end of FY 2025-26. The integration of Acru’s infrastructure is expected to accelerate investment inflows from high-net-worth individuals (HNIs) and institutional investors, particularly in the Middle East, USA, Singapore, UK, Australia, and Canada.
Manjunath Reddy, Founder & CEO of Acru Finserv opines, "At Acru, we have developed robust infrastructure that facilitates investments in Indian mutual funds, digital gold, and digital silver. We are also adding AIF, PMS and listed equities as new asset classes for global investors. With Stockal’s backing, network, and expertise, we are well-positioned to provide a smoother investing experience and fast-track our goal of delivering bespoke financial solutions to the Indian diaspora," noted.
Stockal counts the likes of AROA Venture Partners, July Ventures, HDFC Bank, HDFC Securities, Hashed Venture Fund, Czar Capital and others among its investors.
