Wealthtech provider Addepar lands $230m Series G investment

US-based wealthtech firm Addepar has concluded its Series G funding round, raising $230m at a valuation of $3.25bn.

The investment round was jointly led by Vitruvian Partners and returning investor WestCap, with additional contributions from 8VC and Valor Equity Partners.

New investor EDBI, part of the Singapore Economic Development Board and Enterprise Singapore, also participated in this funding round.

The funds will primarily facilitate liquidity for employees and investors through a tender offer, allowing them to realise the value of their contributions.

Additionally, the financing will support investments in “innovation” and client capabilities.

Vitruvian Partners partner Luuk Remmen said: “We're proud to bring more than capital to this partnership—offering strategic insight to help accelerate Addepar's next phase of global growth and extend its transformative solutions to more investment professionals worldwide."

Founded in response to the 2008 financial crisis, Addepar has focused on equipping investment professionals with advanced data, technology, and insights. It aims to set a new benchmark for wealth managers and investors globally.

The Addepar platform is utilised by clients to manage and advise on more than $7tn in assets, an increase from $5tn reported last year.

The company adds more than $25bn in new assets weekly and serves over 1,200 client firms across more than 50 countries, according to Addepar.

Addepar's clientele includes single-family offices, RIAs, large banks, institutional asset owners, and alternative fund managers.

The company allocates more than $100m annually towards research and development and anticipates achieving profitability by 2025.

Addepar CEO Eric Poirier said: “This funding aims to reward everyone who has contributed to our mission during our first 15 years, and reinforces our commitment to empowering the world's leading firms with deep and lasting innovation.

“It ensures that our clients are empowered with the right technology, data and tools to navigate the full range of market conditions with confidence.”

In September 2024, Addepar partnered with Itaú Private, enhancing the bank's access to Addepar's data aggregation and performance reporting platform in Brazil.

"Wealthtech provider Addepar lands $230m Series G investment" was originally created and published by Private Banker International, a GlobalData owned brand.

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