Luxury assets investment platform Konvi has acquired Diversified and Fractible, consolidating their market share among a shared customer base. Financial terms of the deal are undisclosed.
Konvi, Diversified and Fractible facilitate investment in luxury items such as fine wines, whiskeys, watches and vintage cars with a minimum investment of €250 in the hope that they will appreciate over time. French shoppers buy more luxury items than any other nation, and both acquired companies lead in France, opening up a key market for Konvi.
Items available to invest in also include artwork; Konvi recently partnered with art collectors TGB Contemporary to offer users the opportunity to invest in Banksy pieces. The partnership enables users to access pieces that would usually require significant capital and a broad network of collectors and auction houses to be able to make a purchase.
Under the acquisition, all current investments on Diversified and Fractible will automatically transfer to the Konvi app in April.
Co-founder and CEO Eran Peer commented:
Acquiring Diversified and Fractible, both leading luxury investment platforms in France, is a crucial step in strengthening Konvi’s position as the European leader in this market. Users of both these platforms will now have access to our platform which will provide them with more exclusive investment opportunities including vintage cars, art, wine and fine watches. We are on a mission to democratise access to luxury assets through fractional investment and will continue our aggressive growth strategy to provide exciting new opportunities in the luxury market to retail investors across the globe.
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