Altruist, a Los Angeles, CA-based fashionable custodian for RIAs, raised $152m in Collection F funding.
The spherical, which valued the corporate at roughly $1.9 billion, was led by GIC with participation from Salesforce Ventures, Geodesic Capital, Baillie Gifford, Carson Household Workplace, ICONIQ Progress, and a choose group of extra companions.
Led by CEO Jason Wenk, Altruist is a contemporary custodian for unbiased RIAs which mixes a self-clearing brokerage agency with software program for account opening, buying and selling, reporting, and billing – multi function streamlined answer. With Altruist, advisors can create customized fashions, commerce fractional shares, automate rebalancing, and share efficiency insights with purchasers utilizing a contemporary cell app.
The funding follows a landmark 12 months. In 2024, the corporate launched a collection of recent merchandise, together with a high-yield money account, automated and scalable tax administration instruments, and a totally digital native fixed-income buying and selling expertise. Altruist achieved triple-digit progress in key metrics like income, brokerage accounts, and advisors served.
Earlier this 12 months, the corporate expanded its government staff by appointing Wealthy Rao as Chief Enterprise Officer and Sumanth Sukumar as Chief Expertise Officer, constructing on final 12 months’s addition of Piret Loone as Common Counsel.
Altruist now serves over 4,700 advisors.
FinSMEs
22/04/2025
