Fintech custodian Altruist raised $152 million in a Series F funding round.
The Los Angeles company said in a press release that the round was led by GIC, with Salesforce Ventures, Geodesic Capital, Baillie Gifford, the Carson Family Office, and ICONIQ Growth also participating.
The round values the company at approximately $1.9 billion.
“Altruist’s track record of building best-in-class, innovative products has positioned them to serve a large and growing market, bringing modern infrastructure to advisors who have long been underserved,” Choo Yong Cheen, GIC’s chief investment officer of private equity, said in a press release. “GIC looks forward to supporting Altruist in their mission to democratize access to financial advice through our long-term, flexible capital. We are confident in the management team’s ability to deliver exceptional value to advisors and their clients.”
Altruist has raised more than $600 million.
The company in April 2023 raised $112 million in a Series D funding round led by Insight Partners and Adams Street Partners
Just over a year later, it raised another $169 million in a Series E funding round led by ICONIQ Growth with participation from new investor Granite Capital Management. Adams Street Partners and Sound Ventures also participated in last year’s round.