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Kotak Securities Limited (KSL), a subsidiary of Kotak Mahindra Bank, has done a acqui-hire of virtual trading and thematic investment platform - TradeGyani
The transaction value for this acquisition has not been disclosed. The founders of TradeGyani – Rahul Pahuja and Brijendra Singh will join the Corporate Development division of KSL and will focus on designing and launching new investment products for retail investors.
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Yield curve is likely to continue to bear steepen through most of 1HFY23KSL’s Corporate Development division was set up in FY 2021 to harness innovation and new-age technologies by collaborating, incubating and investing in fintech and technology startups. As part of this initiative, the first-ever acqui-hire deal represents an important milestone in bringing new-age technologies and entrepreurial talent to the brokerage firm.
In this deal, KSL is acquiring the product as well as the associated intellectual property of TradeGyani; and bringing the founders on board.
Shripal Shah, President and Key Leadership Member, KSL, said“This acqui-hire deal is part of our strategy to set up and scale new-age investment products by partnering with fintechs through product collaborations, investments and acquihires.”
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