iCapital At The Masters, Addepars President and Plaids Review


    New money, new leadership, and a new sponsor at The Masters – the world of wealthtech had a busy spring.

    High ratings and technology go hand in hand, especially when it comes to the Plaid account aggregator. Advisors may have dodged a bullet when Plaid and Visa decided to break off their merger talks, but that didn’t stop Plaid from continuing to raise funds.

    “It’s just getting started,” said Zach Perret, Co-Founder and CEO of Plaid. The company raised $ 425 million in its Series D funding round, funds that will be used to scale the platform, he wrote in a blog post.

    With the new investors Altimeter Capital, Silver Lake and Ribbit Capital joining investors such as Andreessen Horowitz, Spark Capital and Thrive Capital, the fintech is now valued at $ 13.4 billion, according to a source close to the company. That equates to a valuation of $ 5.3 billion allocated to him as part of the Visa deal that was finalized a little over a year ago.

    In addition to “continuing investment in APIs,” Plaid will be putting the funds into building “tools and services to support improved data protection, personalization, decision-making and automation,” Perret said.

    Addepar appoints Obrand as president

    Much was done about digital media acceleration during the pandemic, but wealth management platform Addepar was able to quantify its growth in terms of the assets on the platform. It has been adding an average of $ 15 billion per week since mid-2020, and according to the company, it’s now $ 2.5 trillion on the platform. The company serves hundreds of family offices, RIAs and large institutions and is currently expanding its presence with a new office in Edinburgh, Scotland next year.

    In addition to wealth and geographic growth, the company puts David Obrand in a more practical role. Obrand has been a member of the company’s board of directors since 2018 and will oversee Addepar’s growth strategy and execution as president of the company. A “comprehensive” search by CEO Eric Poirier ended with Obrand in the role.

    “David [has a] Proven record as an exceptional leader in delivering outstanding customer results with technology and data-based innovations, ”said Poirier in a statement.

    iCapital is making its Masters debut

    In the meantime, fintech junkies will have one more reason to get involved in the Masters golf tournament this week. Alternative asset platform iCapital Network will feature its logo featuring golfer Lee Westwood, who has been named the company’s brand ambassador. Westwood currently ranks 20th in the world according to the official world golf rankings. iCapital Network and Westwood have signed a three year contract.

    Lawrence Calcano, CEO of iCapital Network, is “an avid golf fan,” he said in the announcement. “I have long admired Lee, not just as a talented golfer but also as a respected professional who consistently demonstrates so much of what we value at iCapital – perseverance, commitment, being the perfect teammate and playing long term,” he said .

    Lee finished second three times in major championships and was awarded an Order of the British Empire (OBE) in 2012 for services to the sport.


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