Indian venture capital firm Chiratae Ventures led the funding round for APAC expansion.
Kristal has raised $6 million in a series-A funding round, bringing its total funding to date to $11 million, the Singapore-based digital wealth manager announced in a statement on Tuesday.
Joining Chiratae are Desai Family Office and «HNWI names well known in the financial industry,» the statement said. The funds will be used to support its technology back-end, develop more curated strategies, and expand further into the APAC and Middle-East markets.
Hyper-Personalization
Founded in 2016, Kristal operates an artificial intelligence (AI) driven wealth management platform in Singapore, Hong Kong and India. Its investment products – Leveraged Bond Kristal, which invests in fixed income corporate and sovereign bonds, and Singapore REITs Kristal – are said to have returned 14 percent annually.
Kristal has $100 million in assets under management, and has serviced more than 10,000 customers in 22 countries, according to its website.
