Addepar, a US-based wealth management technology provider backed by online lender CreditEase, received $150m in series F funding from investment firm D1 Capital Partners on Tuesday at a $2bn pre-money valuation.
Founded in 2009, Addepar develops wealth management software used by investment advisers, financial services firms and family offices for tasks such as data aggregation, analytics and reporting. It claims to have more than $2.7 trillion of client assets registered on its platform.
The company launched a marketplace platform in May 2020 that provides access to investments products across private equity, hedge funds, secondaries, private company shares and cash programmes.
Addepar also recently introduced its investor sentiment index, which aggregates data from more than 10,000 portfolios. It will use the series F proceeds to accelerate its growth and fund recruitment while expanding into new geographic markets.
The round increased Addepar’s overall funding to at least $475m. WestCap Group led its $117m series E round in November 2020, with participation from 8VC and Sway Ventures.
CreditEase’s Fintech Investment Fund participated in a $140m series D round for the company in 2017 that was co-led by Valor Equity Partners, 8VC and Harald McPike.
Addepar had received $50m in a 2014 series C round co-led by Valor Equity Partners and David O Sacks that included assorted individual and angel investors. It had previously raised $15.8m from investors including Accelerate-IT Ventures, Blumberg Capital and Peter Thiel in 2011.