Overview

Altruist offers a platform for Registered Investment Advisors (RIAs) to enhance their operations and client services. Its features include live chat support, commission-free fractional share trading, a model marketplace, and an automated rebalancer, which help RIAs manage their businesses more efficiently. Unlike competitors, Altruist provides these services for free and monetizes through a vertically-integrated custodian service, aiming to attract a large user base. The company's goal is to empower RIAs to grow their businesses and improve client experiences.

Simplify's Take

What believers are saying

• Altruist raised $169M in Series E funding, boosting growth potential.
• Partnerships with Orion and Kwanti enhance Altruist's platform capabilities.
• Demand for digital transformation in financial services aligns with Altruist's offerings.

What critics are saying

• Competition from firms like Betterment and Wealthfront threatens Altruist's market share.
• Regulatory changes could impact Altruist's commission-free trading model.
• Expansion into digital fixed-income trading introduces new market risks.

What makes Altruist unique

• Altruist offers a simplified tech stack for efficient RIA management.
• The platform includes commission-free fractional share trading and automated rebalancing.
• Altruist provides original content and fast onboarding for financial advisors.

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Funding

Total Funding

$449.5M

Above

Industry Average

Funded Over

5 Rounds

Notable Investors:

Insight Partners

Notable Investors:

Insight Partners

$169,000,000

Series E

May 2024

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.

Series E Funding Comparison

Above Average

Industry standards

Ind Avg. $100M

$30M

$169M

$245M

$250M

$1250M

$1500M

View all funding stages