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The wealth management platform specializes in data aggregation, analytics, and reporting for even the most complex investment portfolios. The company's platform aggregates portfolio, market, and client data all in one place
Fremont, CA: Wealth management technology platform Addepar secured an investment of USD 40 million from WestCap Group. The investment round was led by Laurence Tosi (L.T.), a member of Addepar's Board of Directors for the past two years as well as WestCap's founder and managing partner, and by Scott Ganeles. Longtime partners Tosi and Ganeles also co-founded iPreo, a leading capital markets fintech company. The newly raised capital will be used towards investment research and development, market expansion, and building on its industry-leading platform, which has set the company apart in an increasingly competitive space.
"This latest financing from WestCap helps Addepar expand on the value we bring to our clients, which has fueled our growth trajectory over the past decade," said CEO Eric Poirier. "Our cloud-based data aggregation, analytics, and reporting solution empower Addepar's clients to give each of their clients a clear and complete understanding of their investment portfolio, from anywhere at any time. These capabilities are an absolute requirement in today's market environment, and our team's commitment to this problem space is stronger now than ever. With over $1.7 trillion in assets now managed on Addepar by some of the world's most respected firms, we have many opportunities to add to our offerings and deliver unmatched and lasting value to advisors and wealth managers. We're grateful for L.T.'s support over the years and are excited for the additional operating expertise and guidance contributed by Scott and the truly world-class team at WestCap."
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The wealth management platform specializes in data aggregation, analytics, and reporting for even the most complex investment portfolios. The company's platform aggregates portfolio, market, and client data all in one place. Addepar provides asset owners and advisors a clearer financial picture at every level, allowing them to make more informed and timely investment decisions. Working with hundreds of leading financial advisors, family offices, and large financial institutions, the company manages data worth over USD 1.7 trillion of assets.
"Having operated and grown fintech companies serving both public and private markets for the last 30 years, I am highly confident in Addepar's trajectory - the company is perfectly positioned to arm advisors and investors with the best data, technology, and products in order to make confident, data-driven decisions in a scalable way. Our investment supports our belief in the tangible value they provide, no matter the market conditions," said Ganeles.
See also: Top Wealth Management Technology Solution Companies
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