Wealth Administration Tech Platform Addepar Raises $117 Million By means of Collection E Funding Spherical Led By WestCap Group
Addepar, a U.S.-based wealth administration platform, introduced on Wednesday it secured $117 million by way of its Collection E funding spherical, which was led by WestCap Group with participation from 8VC.
Based in 2009, Addepar describes itself as a wealth administration platform that makes a speciality of information aggregation, analytics, and reporting for even probably the most complicated funding portfolios. The platform gives asset house owners and advisors a clearer monetary image at each degree, permitting them to make extra knowledgeable and well timed funding choices.
“Addepar works with a whole bunch of main monetary advisors, household places of work and enormous monetary establishments that handle information for greater than $2 trillion of property on the corporate’s platform.”
Addepar was beforehand named as a Forbes Fintech 50 for the fifth consecutive 12 months and a 2018 Morgan Stanley Fintech Award recipient. Addepar additional revealed that it now has greater than $2 trillion in consumer property on the platform. Addepar has sustained its tempo of including a median of $10 billion per week. Commenting on the corporate’s development, Addepar CEO, Eric Poirier, acknowledged:
“The expansion we’ve skilled this 12 months is a direct results of placing our purchasers on the heart of our priorities. We’re constantly pursuing novel methods to increase the worth we convey to every of those relationships.”
Addepar went on so as to add that the funding shall be used to help the enlargement of its information aggregation, evaluation, and reporting platform.