Latest news with #LuukRemmen
Yahoo
14-05-2025
- Business
- Yahoo
Addepar secures $230M in series G funding
Addepar, a platform for investment professionals, has raised $230m in a Series G funding round, pushing its valuation to $3.25bn. The investment round was co-led by London-based Vitruvian Partners and returning investor WestCap of New York. It also included long-time investors 8VC and Valor Equity Partners, as well as new investor EDBI, which is part of SG Growth Capital, the investment arm of Singapore's Economic Development Board and Enterprise Singapore. The company's platform, which provides investment professionals with tools to make data-driven decisions, currently supports over $7trn in assets up from $5trn just a year ago. With more than 1,200 client firms in over 50 countries, Addepar continues to grow its global footprint, averaging $25bn in new assets each week. Eric Poirier, CEO of Addepar stated: "This investment round reflects the deep trust our investors have in our mission, and the exceptional value we consistently deliver to our clients. Since day one, our focus has been on building a unified platform that equips investment professionals with advanced technology, precise data, and actionable insights essential tools for achieving extraordinary outcomes in today's rapidly evolving financial landscape. 'This funding aims to reward everyone who has contributed to our mission during our first 15 years and reinforces our commitment to empowering the world's leading firms with deep and lasting innovation. It ensures that our clients are empowered with the right technology, data and tools to navigate the full range of market conditions with confidence." The newly raised funds will be primarily utilised to provide liquidity to workers and early investors through a tender offer, allowing them to participate in the company's growth. A portion of the funds will be used to expedite the development of Addepar's product suite and client services. Moreover, Addepar is on target to become profitable in 2025 and continues to invest more than $100m yearly in research and development. It has established a reputation as a reliable platform for RIAs, family offices, large banks, institutional asset owners, and alternative fund managers, particularly during times of market uncertainty. Luuk Remmen, Partner at Vitruvian Partners shared: "Addepar has established itself as a category leader in investment technology with a strong track record of innovation and measurable global impact. We're proud to bring more than capital to this partnership, offering strategic insight to help accelerate Addepar's next phase of global growth and extend its transformative solutions to more investment professionals worldwide." WestCap's Jaime Hildreth added: "We're proud to deepen our partnership with Addepar as they push the boundaries of innovation across the wealth management ecosystem, providing essential solutions for today's investment managers. We recognised Eric and the Addepar team's vision from the outset and will continue to work alongside their team to build, scale, and pioneer the future of investment management." Addepar was founded in the aftermath of the 2008 financial crisis with the goal of providing better tools, data, and transparency for investors. Since then, it has grown as a key platform in the investment management industry. As markets continue to grapple with uncertainty, Addepar aims to deepen its role in helping firms manage risk, respond to volatility, and deliver differentiated results to clients. "Addepar secures $230M in series G funding" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Wealthtech provider Addepar lands $230m Series G investment
US-based wealthtech firm Addepar has concluded its Series G funding round, raising $230m at a valuation of $3.25bn. The investment round was jointly led by Vitruvian Partners and returning investor WestCap, with additional contributions from 8VC and Valor Equity Partners. New investor EDBI, part of the Singapore Economic Development Board and Enterprise Singapore, also participated in this funding round. The funds will primarily facilitate liquidity for employees and investors through a tender offer, allowing them to realise the value of their contributions. Additionally, the financing will support investments in 'innovation' and client capabilities. Vitruvian Partners partner Luuk Remmen said: 'We're proud to bring more than capital to this partnership—offering strategic insight to help accelerate Addepar's next phase of global growth and extend its transformative solutions to more investment professionals worldwide." Founded in response to the 2008 financial crisis, Addepar has focused on equipping investment professionals with advanced data, technology, and insights. It aims to set a new benchmark for wealth managers and investors globally. The Addepar platform is utilised by clients to manage and advise on more than $7tn in assets, an increase from $5tn reported last year. The company adds more than $25bn in new assets weekly and serves over 1,200 client firms across more than 50 countries, according to Addepar. Addepar's clientele includes single-family offices, RIAs, large banks, institutional asset owners, and alternative fund managers. The company allocates more than $100m annually towards research and development and anticipates achieving profitability by 2025. Addepar CEO Eric Poirier said: 'This funding aims to reward everyone who has contributed to our mission during our first 15 years, and reinforces our commitment to empowering the world's leading firms with deep and lasting innovation. 'It ensures that our clients are empowered with the right technology, data and tools to navigate the full range of market conditions with confidence.' In September 2024, Addepar partnered with Itaú Private, enhancing the bank's access to Addepar's data aggregation and performance reporting platform in Brazil. "Wealthtech provider Addepar lands $230m Series G investment" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
