Masttro, a wealth tech company serving family offices, financial advisers and large institutions managing the wealth of ultra-high-net-worth (UHNW) families, has announced a $43 million growth equity investment.
The funding was led by FTV Capital, a sector-focused growth equity investor with 25 years of experience in financial services and enterprise technology. Citi Ventures also participated. The minority investment will accelerate Masttro’s growth through market expansion and will drive R&D for its innovative software platform including wealth data aggregation, synthesis and visualization, leveraging artificial intelligence.
The wealth management space is facing a major revolution driven by two forces, according to the firm’s statement. First, the world is undergoing the largest intergenerational transfer of wealth in human history, with an estimated $84 trillion expected to transfer through 2045. Against this backdrop, UHNW families are often managing the m