Kotak Securities Limited (KSL), a subsidiary of Kotak Mahindra Bank, on Wednesday said it has
acqui-hired virtual trading and thematic investment platform TradeGyani.
Acqui-hiring is the process of acquiring a company primarily to recruit its employees, rather than to gain control of its products or services.
Following the deal, TradeGyani founders Rahul Pahuja and Brijendra Singh will join the KSL’s corporate development division to focus more on designing and launching of new investment products around retail investors.
Kotak Securities is buying the product as well as the associated intellectual property of TradeGyani.
TradeGyani, launched in 2017 by Pahuja and Singh, connects experienced with novice investors. A novice investor can see and copy the portfolios of experienced investors through the platform.
The firm competes with similar players like Etoro and Ayondo.
“The team at TradeGyani brings excellent insights and expertise in building social communities and thematic investment platforms. The founding team will carry on Kotak Securities Limited’s vision of building full-stack financial products for retail customers,” said Jaideep Hansraj, MD and CEO of Kotak Securities.
“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,” said Shripal Shah, President and a key leadership member of Kotak Securities.
KSL said that as of December 31, 2021, it has an India footprint of 153 branches, 1443 franchisees and satellite offices across 382 cities and serves over 31 lakh client base.
In December, Kotak Securities acquired a 7.50% stake in Entroq Technologies Private Ltd (ETPL) which owns and operates the brand FlipItNews for Rs 3 crore as part of the company’s startup engagement and investments initiative.
