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Highlights
- In the last funding round held in June this year, Addepar had raised US$ 150 million.
- After the funding round, the company had said that it would use the money to accelerate its growth plans.
- According to the company website, Addepar's assets under management (AUM) are worth US$ 3 trillion, and it has more than 600 clients.
The California-based wealth management firm Addepar has caught the attention of crypto enthusiasts as they are looking for the company's initial public offering (IPO) plans.
The COVID-19 pandemic has increased the demand for wealth management technology, and companies in this sector have benefited from it, including Addepar.
In the last funding round held in June this year, Addepar had raised US$ 150 million, and its valuation had doubled from the previous funding round to reach US$ 2.17 billion.
Ever since the pandemic began, Addepar has reportedly added a lot of customers and assets to its platform.
After the funding round, the company said it would use the money to boost its growth plans and expand into new geographies through its business and workforce. Also Read: VinFast IPO: Can you buy the Vietnamese electric car maker's stock?
When a record number of companies have gone public in the US equity markets, potential investors are hoping that Addepar IPO could happen in the future.
Addepar IPO on the cards?
So far, the company has not announced any IPO plans, and only potential investors are hoping for Addepar to go public. Joe Lonsdale established the company in 2009, and it has remained a private company since then.
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According to the company website, Addepar's assets under management (AUM) are worth US$ 3 trillion, and it has more than 600 clients. Last year, the financial technology (fintech) company had added average assets worth US$ 15 billion.
After the financial crisis of 2008, Addepar was started to create a transparent financial system. The company helps people understand the assets they own and check how they perform.
Interested investors in this company's stock will have to wait for Addepar to launch its IPO process.
At the moment, retail investors cannot invest in Addepar, and they will be eligible to get hold of the shares only if the company goes public.
Bottom line
Addepar seems to have growth potential as the overall global wealth management industry is expected to do well in future.
Also Read: Pure Watercraft: Is the startup going public & can you buy its stock?
According to an Allied Market Research report, the global wealth management industry will reach US$ 3.43 trillion by 2030 from US$ 1,25 trillion in 2020.
During the mentioned forecast period, the industry could register a compound annual growth rate of 10.7 per cent.
