Altruist is a technology company.
Altruist has raised $449.0M across 5 funding rounds.
Key people at Altruist.
Altruist was founded in 2018 by Jason Wenk (Founder / CEO).
Altruist has raised $449.0M in total across 5 funding rounds.
Key people at Altruist.
Altruist refers to Altruist Corp, a U.S.-based fintech technology company that provides a modern custodian platform for registered investment advisors (RIAs). It builds integrated software and tools for onboarding, funding, trading, portfolio management, billing, and reporting to help RIAs lower client fees and improve outcomes.[4] Altruist serves fiduciary RIAs and their clients, solving the problem of outdated, inefficient financial services infrastructure by simplifying operations and making advice more affordable and accessible.[4] The company has shown growth through a leadership team of industry veterans and a focus on disrupting legacy custodians.[4]
(Note: Search results also reference Altruist Technologies, an India-based firm founded in 2005 specializing in telecom VAS, BPO, and digital transformation for operators in 50+ countries with 12,000-14,000 employees.[1][2][3] However, the query specifies a "technology company," aligning more closely with Altruist Corp's fintech profile.[4])
Altruist Corp was founded by Jason Wenk, its CEO, who brings over 20 years in financial services as an advisor, investment systems developer, analyst, and founder of prior firm FormulaFolios.[4] The idea emerged from Wenk's deep industry experience, aiming to address the "antiquated" financial services sector needing radical change through better technology for RIAs.[4] Key early traction stems from assembling a leadership team including COO Mazi Bahadori (ex-PIMCO, Morgan Stanley), CPO Harpreet Ahluwalia (ex-ServiceTitan, Salesforce, UBS), and CBO Rich Rao (ex-Google, Meta), positioning it for rapid scaling.[4]
Altruist stands out in the fintech custody space through:
Altruist rides the fintech democratization trend, enabling independent RIAs to compete with big wirehouses via affordable, tech-driven custody amid rising demand for low-cost, transparent advice.[4] Timing aligns with regulatory pushes for fiduciary standards and the shift to digital platforms post-2020s wealthtech boom, fueled by retail investing surges and advisor independence.[4] Market forces like aging legacy systems and RIA AUM growth (projected to hit trillions) favor Altruist, as it lowers barriers for smaller firms.[4] It influences the ecosystem by empowering RIAs to scale, potentially accelerating consolidation and innovation in advisor tech.
Altruist is poised to capture more RIA market share by expanding its platform with AI-driven insights and seamless integrations, building on its veteran-led momentum.[4] Trends like embedded finance, robo-advisory hybrids, and regulatory tailwinds for independents will shape its path, with potential for partnerships or acquisitions to broaden direct indexing and alternatives.[4] Its influence may evolve from disruptor to category leader, redefining custody as advisors demand tech that matches client-centric missions—tying back to making advice truly accessible for all.
Altruist was founded in 2018 by Jason Wenk (Founder / CEO).
Altruist has raised $449.0M in total across 5 funding rounds.
Altruist's investors include Adams Street Partners, Cervin Ventures, Sapphire Ventures, Cambrian Ventures, Declaration Partners, Flyover Capital, Insight Partners, Venrock, Andreessen Horowitz, ATX Venture Partners, Bessemer Venture Partners, Boldstart Ventures.
Altruist has raised $449.0M across 5 funding rounds. Most recently, it raised $170.0M Series E in May 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2024 | $170.0M Series E | Adams Street Partners, Cervin Ventures, Sapphire Ventures | |
| Mar 1, 2023 | $110.0M Series D | Adams Street Partners, Cambrian Ventures, Declaration Partners, Flyover Capital, Insight Partners, Sapphire Ventures, Venrock, Andreessen Horowitz, ATX Venture Partners, Bessemer Venture Partners, Boldstart Ventures, Chalfen Ventures, Guy Podjarny, IA Seed Ventures, Mendoza Ventures, N49P Ventures, Next Coast Ventures, RTP Seed, Tribe Capital | |
| Oct 1, 2021 | $110.0M Series C | Andreessen Horowitz, Boldstart Ventures, Chalfen Ventures, IA Seed Ventures, Insight Partners, Tribe Capital, Guy Podjarny | |
| May 1, 2021 | $50.0M Series B | Andreessen Horowitz, Bessemer Venture Partners, Boldstart Ventures, Chalfen Ventures, Declaration Partners, FirstMark Capital, IA Seed Ventures, Insight Partners, Matrix, Tribe Capital, Venrock, Guy Podjarny | |
| Sep 1, 2018 | $9.0M Series A | FirstMark Capital, Matrix, Venrock |
