Stockal Acquisition With Acru To Push Its Cross-Border Investments

Stockal Acquisition With Acru To Push Its Cross-Border Investment Play

SUMMARY

Stockal has acquired Acru, a company specialising in infrastructure solutions for NRIs and PIOs investing in Indian financial products

The acquisition aims to complete Stockal's cross-border investment ecosystem, enabling both Indian and global investors to invest in each other's markets

Stockal expects the deal to bring in INR 500-1,000 Cr of new investment into India over the next year

Bengaluru-based investment platform Stockal, which counts Aroa Venture Partners, July Ventures, HDFC Securities, Hashed Venture Fund and Czar Capital among its marquee investors, has bought fintech company Acru in a stock deal, marking its maiden acquisition.

However, without disclosing the deal size of the strategic acquisition, Stockal said that the move will allow it to offer a complete solution for cross-border investments.

According to the company, Indian investors can now leverage Stockal’s platform to access over 6,000 global securities, while NRIs and foreign investors can invest in India’s markets.

With this buyout, Stockal aims to tap INR 500-1,000 Cr of new investment into India over the next one year. Till date, the platform claims to have processed over INR 15,000 Cr in transactions.

Sitashwa Srivastava, cofounder and CEO of Stockal, said, “This acquisition enables us to offer a truly holistic infrastructure for cross-border investing. 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.”

“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,” said Acru founder Manjunath Reddy.

Founded in 2016, Stockal has opened over 150,000 investment accounts and processed nearly $2 Bn in transactions. The company aims to reach $3 Bn by the end of FY 2024-25.

Acru has developed infrastructure for investments in Indian mutual funds, digital gold, and digital silver. The company plans to add AIF, PMS, and listed equities as new asset classes for global investors.

The acquisition is expected to boost Stockal’s overall transaction volumes and help it reach an asset base of over $5 Bn by the end of FY 2025-26. The integration of Acru’s infrastructure is likely to accelerate investment inflows from HNIs and institutional investors, particularly in the Middle East, USA, Singapore, UK, Australia, and Canada, the statement added.

Stockal is also expanding its global footprint, with plans to launch in emerging economies like Indonesia, Malaysia, Vietnam, Ghana, and Nigeria by the end of this year. The company already has partnerships in UAE, Qatar, Oman, and Saudi Arabia.

The cross-border investment market in India has been gaining traction, with several fintech companies expanding their offerings.

For instance, PhonePe acquired WealthDesk and OpenQ in 2022 to enhance its wealth management services, while Groww entered the mutual fund space by acquiring Indiabulls Asset Management Company in 2021.