RIA custodian Altruist has raised $152m in a Collection F financing spherical, led by Singapore’s sovereign wealth fund GIC.
The corporate will use the capital to hurry up “innovation” for progress targeted RIAs.
This funding spherical additionally noticed participation from Salesforce Ventures, Geodesic Capital, Baillie Gifford, Carson Household Workplace, ICONIQ Progress, and a choose group of extra companions, valuing Altruist at round $1.9bn.
It follows a major yr for Altruist, throughout which the corporate launched a spread of latest merchandise in 2024.
These choices embrace a high-yield money account, automated and scalable tax administration instruments, and a totally digital native fixed-income buying and selling expertise.
GIC personal fairness chief funding officer Choo Yong Cheen mentioned: “Altruist’s observe report of constructing best-in-class, revolutionary merchandise has positioned them to serve a big and rising market, bringing fashionable infrastructure to advisors who’ve lengthy been underserved.
“GIC appears ahead to supporting Altruist of their mission to democratise entry to monetary recommendation via our long-term, versatile capital.”
Altruist reported triple-digit progress throughout key efficiency metrics, together with income, brokerage accounts, and the variety of advisors served.
Altruist expanded its govt crew earlier this yr by appointing Wealthy Rao as chief enterprise officer and Sumanth Sukumar as chief expertise officer. This follows the earlier yr’s addition of Piret Loone as normal counsel.
At present, the agency serves greater than 4,700 advisors and has achieved a threefold enhance in property underneath administration for 2 consecutive years.
Geodesic Capital companion Arving Ayyala mentioned: “Altruist stands aside within the wealth administration trade with their vertically built-in expertise stack that mixes custody companies with entrance, center, and back-office instruments at a fraction of conventional prices, whereas main the trade into the AI age.”
In Might 2024, StratiFi partnered with Altruist to boost outcomes for monetary advisers.
“Altruist secures $152m in Collection F spherical at practically $1.9bn valuation” was initially created and revealed by Non-public Banker Worldwide, a GlobalData owned model.
The data on this website has been included in good religion for normal informational functions solely. It isn’t supposed to quantity to recommendation on which it is best to rely, and we give no illustration, guarantee or assure, whether or not specific or implied as to its accuracy or completeness. You will need to acquire skilled or specialist recommendation earlier than taking, or refraining from, any motion on the premise of the content material on our website.
RIA custodian Altruist has raised $152m in a Collection F financing spherical, led by Singapore’s sovereign wealth fund GIC.
The corporate will use the capital to hurry up “innovation” for progress targeted RIAs.
This funding spherical additionally noticed participation from Salesforce Ventures, Geodesic Capital, Baillie Gifford, Carson Household Workplace, ICONIQ Progress, and a choose group of extra companions, valuing Altruist at round $1.9bn.
It follows a major yr for Altruist, throughout which the corporate launched a spread of latest merchandise in 2024.
These choices embrace a high-yield money account, automated and scalable tax administration instruments, and a totally digital native fixed-income buying and selling expertise.
GIC personal fairness chief funding officer Choo Yong Cheen mentioned: “Altruist’s observe report of constructing best-in-class, revolutionary merchandise has positioned them to serve a big and rising market, bringing fashionable infrastructure to advisors who’ve lengthy been underserved.
“GIC appears ahead to supporting Altruist of their mission to democratise entry to monetary recommendation via our long-term, versatile capital.”
Altruist reported triple-digit progress throughout key efficiency metrics, together with income, brokerage accounts, and the variety of advisors served.
Altruist expanded its govt crew earlier this yr by appointing Wealthy Rao as chief enterprise officer and Sumanth Sukumar as chief expertise officer. This follows the earlier yr’s addition of Piret Loone as normal counsel.
At present, the agency serves greater than 4,700 advisors and has achieved a threefold enhance in property underneath administration for 2 consecutive years.
Geodesic Capital companion Arving Ayyala mentioned: “Altruist stands aside within the wealth administration trade with their vertically built-in expertise stack that mixes custody companies with entrance, center, and back-office instruments at a fraction of conventional prices, whereas main the trade into the AI age.”
In Might 2024, StratiFi partnered with Altruist to boost outcomes for monetary advisers.
“Altruist secures $152m in Collection F spherical at practically $1.9bn valuation” was initially created and revealed by Non-public Banker Worldwide, a GlobalData owned model.
The data on this website has been included in good religion for normal informational functions solely. It isn’t supposed to quantity to recommendation on which it is best to rely, and we give no illustration, guarantee or assure, whether or not specific or implied as to its accuracy or completeness. You will need to acquire skilled or specialist recommendation earlier than taking, or refraining from, any motion on the premise of the content material on our website.
