Stockal acquires Bengaluru-based Acru for an undisclosed sum

Stockal, a global B2B2C investing platform, has acquired Acru, a Bengaluru-based startup specializing in investment infrastructure for Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs), for an undisclosed sum.

Stockal, which is headquartered in New York, operates under the regulatory purview of both the SEC and SEBI.

The strategic move completes Stockal’s cross-border investment ecosystem, empowering both Indian and global investors to seamlessly invest in each other’s markets.

The acquisition is being executed through an equity stock swap, as per the company's statement.

Stockal, a global B2B2C investing platform, has acquired Acru, a Bengaluru-based startup specializing in investment infrastructure for Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs), for an undisclosed sum.

Stockal, which is headquartered in New York, operates under the regulatory purview of both the SEC and SEBI.

The strategic move completes Stockal’s cross-border investment ecosystem, empowering both Indian and global investors to seamlessly invest in each other’s markets.

The acquisition is being executed through an equity stock swap, as per the company's statement.

Providing access to over 6,000 global securities

With this acquisition, Stockal will provide 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 claims to have processed over Rs 15,000 crore in transactions so far. The acquisition is expected to drive substantial growth, bringing in an additional Rs 500 to Rs 1,000 crore of new investment into India over the next 12 months.

Acquisition to contribute $1 million in revenue

Stockal is strategically expanding its global footprint, with the Acru acquisition expected to contribute approximately $1 million in revenue this year.

The company claims to have a presence in key international markets, including the Middle East, Southeast Asia, and Africa.

Its partnerships span countries such as the UAE, Qatar, Oman, and Saudi Arabia, and it 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.

Leadership comments

“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 said it has already opened over 150,000 investment accounts and processed nearly $2 billion in transactions. The company aims to reach $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.

According to the company's statement, the acquisition of Acru is projected to boost Stockal’s overall transaction volumes while also helping it get its asset base to over $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, said, “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."