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November 19, 2020

Wealth tech firm Addepar receives $117m Series E investment

Wealth management platform Addepar has raised $117m in a Series E financing round to support its expansion plans.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The fundraising was led by growth equity firm WestCap Group, whose investment from its Strategic Operator Fund was led by WestCap founder and managing partner Laurence Tosi and WestCap partner Scott Ganeles.

Tosi has been sitting on the Addepar board for the past two years.

WestCap Group was joined by 8VC – the venture fund founded by Addepar founder Joe Lonsdale – as well as Sway Ventures in the funding round.

The fresh infusion takes the total capital raised by the firm to $325m.

Using the capital, Addepar aims to aid the expansion of its data aggregation, analysis and reporting platform for investors and advisers.

Addepar CEO Eric Poirier said: “There are more than $120 trillion in investable assets globally, and the striking majority of these investments are managed in spreadsheets, using decades-old processes.

“Addepar is making meaningful technology- and data-driven innovations to maximise the impact of this capital, and bringing our solutions to a wider audience. The growth we’ve experienced this year is a direct result of putting our clients at the centre of our priorities.”

Currently, Addepar caters to more than 500 family offices, RIAs, and banks. The firm has over $2trn in client assets on its platform.

Earlier this year, the firm secured $40m funding from WestCap Group.

Tosi noted: “Addepar is an intuitive and critical platform for effectively tracking and managing a wide range of financial assets.

“The Addepar team has brought the best of Silicon Valley innovation and Wall Street risk management capabilities together and is fundamentally transforming the financial industry by giving investors more visibility and control over their investments.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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