Masttro, a WealthTech firm that manages the wealth of ultra-high-net-worth families, has raised $43m in a growth equity investment.
The raise was led by FTV Capital and additionally saw participation from large investor Citi Ventures.
Founded in 2010, Masttro was established to provide a ‘100%’ view of total net worth, offering a software suite that uses data and AI to implement a frame for wealth data extraction, processing and analysis.
Wealth data is often fragmented – split up by region, currency, custodian, asset class and estate structure, with multiple reporting templates and timeframes. While today there is a patchwork of legacy software providers that address parts of the big picture, Masttro claims it is the only company that was purpose-built to solve challenges associated with managing the wealth of UHNW families.
Masttro provides direct digital access and real-time visibility into client portfolios through its best-in-class user experience, with an emphasis on multicurrency, tracking and reporting on alternatives.
The investment will speed up the company’s growth through market expansion and will drive R&D for its innovative software platform including wealth data aggregation, synthsis and visualisation, leveraging AI.
Masttro CEO Padman Perumal said, “We are excited to partner with FTV Capital as we continue to accelerate our growth strategy. FTV’s extensive knowledge and track record in the fintech ecosystem combined with the firm’s vast network of global relationships within the broader financial services space will nicely complement our capabilities.
“This partnership will enable us to deliver on our mission to bring robust wealth data aggregation and synthesis to our clients, which we believe is the last frontier to achieve total transparency in wealth management.”
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