A pre-series B round of funding for Kristal, a Singapore-based wealth advisory and fund management company, has been completed with contributions from its founders as well as Chiratae Ventures, Stride Ventures, and the Desai Family Office, among others.
The additional funding brings Kristal’s total amount raised to over US $27 million, up from the US $6.3 million it secured in March 2021, the company said in a statement.
Kristal offers clients highly individualized investment portfolio advice. The business claimed that more than 50,000 people from more than 20 countries use its platform to manage and advise on assets worth more than US $1 billion.
In addition to the fundraising round, Kristal declared its intent to apply for an Abu Dhabi Global Market (ADGM) license in order to expand into the United Arab Emirates. The Financial Services Regulatory Authority must first approve the license (FSRA).
Kristal was created in 2016 by Asheesh Chanda and Vineeth Narasimhan. In Singapore, Hong Kong, India, and the UAE, they are in charge of a staff of approximately 180 people.