Altruist Garners an $8.5 Million Series A From Venrock to Revolutionize the Way Financial Advisors Serve Clients
Summary
Altruist raised an $8.5 million Series A led by Venrock to build a fully integrated digital brokerage platform for financial advisors. The company plans to combine commission-free trading, fractional shares, online account opening, and native portfolio accounting in one system. Altruist says the platform will cut software costs for advisors and improve client service efficiency. The company also noted that it released a beta version of its portfolio accounting software and expects the full platform to launch in early 2020.
Funding
Amount
$8.5M
Total raised
Date
November 25, 2019
Announcement date
Investors
Venrock
Lead investors
Company
altruist.com
Funded company
Classifications
industries
Fintech & Banking
applications
Integrated Accounting
AskAI Classifications
Labels
SaaS
Fintech Software
WealthTech
Linked Companies
Altruist
$50M to $100M