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.
KSL’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.”