Altruist has raised a $112M Series D funding round to take on legacy financial services companies.
The company is a custodian for independent RIAs.
- Altruist
is a financial services company that aims to challenge traditional
custodians like Fidelity by providing features such as all-in-one
software for account opening, trading, reporting, and billing.
- Insight Partners led the funding round, with participation from Adams Street Partners.
- The
company aims to use the funding to invest in product development and
reach a broader segment of the RIA market, such as mid-sized firms that
manage between $100M and $1B.
- Since being founded in 2018, the company has raised over $280M.
- Altruist is based in Los Angeles.
