What does Altruist do?
Altruist provides a modern custodial platform for independent registered investment advisors by integrating self-clearing brokerage capabilities with advanced software that manages account opening, trading, reporting, and billing— all accessible via a streamlined mobile app.
How much did they raise?
The company raised $152M in a Series F round led by GIC, with participation from Salesforce Ventures, Geodesic Capital, Baillie Gifford, Carson Family Office, and ICONIQ Growth. The round valued Altruist at approximately $1.9 billion.
What are their plans for the money?
The funding is aimed at accelerating product development and further enhancing the digital custodian experience. With these resources, Altruist plans to expand its innovative features such as fractional share trading, automated rebalancing, and scalable tax management tools to better serve the evolving needs of advisors and their clients.
What have they achieved so far?
Altruist has made significant strides in its growth, evidenced by triple-digit increases in revenue, brokerage accounts, and advisors served. In 2024, the company also launched several new products, including a high-yield cash account and a fully digital native fixed-income trading experience, further solidifying its position in the market.
