Asset management platform Kristal.AI has announced an ESOP liquidity program worth $1 million (Rs 7.5 crore) for its former and existing employees.
Founded by Vivek Mohindra, Vineeth Narasimhan and Asheesh Chanda in 2016, Kristal.AI provides investors and advisors with portfolios (Kristals) that are created and curated by financial experts.
Since January 2020, the platform quadrupled its AUM and its user base has expanded seven-fold, resulting in a 22 times increase in its annual recurring revenue. The startup has a presence in Mumbai and Bengaluru and also caters to customers in Singapore, Hong Kong and the UAE.
In January 2020, Kristal.ai had raised $6 million in its Series A round led by Chiratae Ventures and Desai Family Office.
Kristal.AI has joined the likes of several early and growth-stage startups including FleetX, Cars24, Jupiter, Ninjacart among others that have conducted ESOP buyback or liquidity programs in 2022.