Altruist, a US-based custodian platform for registered funding advisors (RIAs), has raised US$152 million in a Collection F funding spherical led by Singapore’s sovereign wealth fund GIC.
The newest spherical values the corporate at roughly US$1.9 billion.
Different buyers embody Salesforce Ventures, Geodesic Capital, Baillie Gifford, Carson Household Workplace, ICONIQ Progress, and choose further backers.
The funding comes on the heels of what the corporate described as a powerful 2024, throughout which it launched a number of new merchandise resembling a high-yield money account, tax administration instruments, and a digital-native fastened earnings buying and selling platform.
Altruist reported triple-digit development in income, brokerage accounts, and the variety of advisors served.
The agency additionally expanded its management staff earlier this yr, naming Wealthy Rao as Chief Enterprise Officer and Sumanth Sukumar as Chief Know-how Officer, following the appointment of Piret Loone as Common Counsel in 2023.
The corporate stated these strikes help its push into the enterprise section, which has helped develop the common agency measurement it serves by 43% year-over-year.
The platform now helps greater than 4,700 advisors and stated it has tripled its property beneath administration for 2 years in a row.
Based on the 2025 T3 Software program Survey, Altruist’s market share elevated from 2.85% to six.25%, incomes recognition in classes resembling custody, buying and selling, billing, and portfolio administration.
“Altruist’s observe document of constructing best-in-class, modern merchandise has positioned them to serve a big and rising market, bringing fashionable infrastructure to advisors who’ve lengthy been underserved.
GIC seems ahead to supporting Altruist of their mission to democratize entry to monetary recommendation by way of our long-term, versatile capital. We’re assured within the administration staff’s means to ship distinctive worth to advisors and their purchasers.”
stated Choo Yong Cheen, Chief Funding Officer of Personal Fairness at GIC.
Altruist CEO Jason Wenk mirrored on the corporate’s founding and its core viewers, stating,
“I based Altruist as a result of there was a transparent and compelling want for a greater RIA custodian.”
He stated the platform is designed for “advisors dedicated to speedy development, deep shopper relationships, and innovation,” whom he refers to as “Trendy Advisors.”
Featured picture credit score: Edited from Freepik