FOTechHub Bulletin #20 - Family Office Technology News Roundup

M&A and Strategic Moves

Foundation Source Acquires Giving Place   

Give, a TIFIN company, has sold its Giving Place platform—designed to support family office giving programs and private foundations—to Foundation Source. The companies issued statements highlighting their respective strategic priorities. Give said the sale will allow it to focus more sharply on scaling its donor-advised fund (DAF) offering, which it views as the future of philanthropy. Paul Lussow, CEO of Give and co-founder of Giving Place, noted the move aligns with their goal of becoming the go-to provider for next-generation DAF solutions. For Foundation Source, the acquisition reinforces its position as a leading provider of philanthropic tools for private and family foundations. 

The deal follows Foundation Source’s recent acquisition of Vennfi, the fintech behind donor-advised fund sponsor Charityvest. Giving Place was previously acquired by TIFIN Give in February 2024 to help legacy clients access a custom white-labeled DAF platform, capitalizing on growing interest in the DAF sector. 

Allvue Unveils Nexius: AI-Ready Data Platform for Private Capital Markets

Allvue Systems has launched Nexius, an AI-ready data platform designed to modernize data management across private capital markets. Nexius addresses common challenges like data silos and manual processes by unifying investment, accounting, and operational data in a single platform. At launch, Allvue reported adoption by seven fund administrators and 30 individual General Partners, representing 250 GPs in total.

Built on Snowflake, Nexius supports real-time analytics, self-service reporting, automated workflows (including capital calls, onboarding, and deal tracking), and bi-directional API integrations with fund accounting, CRM, and third-party systems. This launch aligns with Allvue’s broader strategic push into AI and data innovation, backed by a 70% year-over-year increase in R&D investment. The company has also expanded its leadership team with senior hires in data, AI, and marketing from firms such as LSEG, Nasdaq, JPMorgan, and PayPal—supported by a growing team of over 30 data specialists.

Altruist Closes $152M Series F at $1.9B Valuation to Supercharge RIA Innovation

Altruist secured $152M in Series F funding and jumped to a $1.9B valuation. The round was led by GIC, a global institutional investor. Salesforce Ventures, Geodesic Capital, Baillie Gifford, Carson Family Office, ICONIQ Growth, and a select group of additional partners also participated. With rapid growth—serving 4,700+ RIAs, introducing high-yield cash, tax automation, and AI roadmap—and new executive hires, it’s scaling into larger, enterprise-level advisory firms.

F2 Strategy Acquires MD Solutions

F2 Strategy has acquired MD Solutions (MDS), a Florida-based fintech and operations services provider, to strengthen its offerings for RIAs and single-family offices. This marks F2's third acquisition in two years, following Oakbrook Solutions and SKY Marketing Consultants.

Founded in 2004 by Steve Mars and Bill Navarro, MDS brings expertise in investment operations and tech implementation, which will be fully integrated into F2. The acquisition strengthens F2’s position in the emerging RIA and SFO markets and supports the launch of a new strategic service that partners with wealth tech providers to deliver specialized implementation and ongoing support—extending beyond F2’s traditional focus on vendor selection and strategy.

Asseta Raises $1.5M to Expand AI-Powered Platform for Family Offices

Asseta, formerly known as Prismatic, has secured $1.5 million in pre-seed funding, as reported by Modus. The investment comes from angel investors, high-net-worth individuals, and some of its own family office clients, providing the company with over two years of operational runway. The company offers an AI-powered financial management platform designed for single and multi-family offices, combining general ledger accounting, investment tracking, bill payments, forecasting, and document storage into one unified system. CEO and co-founder Dean Palmiter previously held roles at Sage and NetSuite. 

Wealth.com Expands With Schwab Investment and eMoney Integration 

Charles Schwab made a strategic investment in Wealth.com, signaling growing institutional interest in modern estate planning solutions. While terms of the minority stake were not disclosed, it marks Wealth.com's second capital raise since its $30 million Series A round in September 2024. Building on this momentum, Wealth.com has announced a strategic integration with eMoney Advisor, a widely used financial planning platform owned by Fidelity. Notably, competitor Vanilla launched its own eMoney integration in December 2024.

SS&C Opens Riyadh Office to Boost Regional Presence

SS&C Technologies has launched a new office in Riyadh to support its growing client base in Saudi Arabia and the wider Middle East. The office will offer localized services in investment management, automation, and risk solutions, aligning with Saudi Arabia’s Vision 2030, a $3 trillion economic transformation initiative. SS&C aims to deepen relationships with regulators and deliver tailored solutions to the region’s growing financial sector.

Product Updates and Partnerships 

Luminary Adds Advanced Strategy Modeling and Visual Summaries to streamline complex estate planning. Advisors can now model GRATs, CRTs, and CLTs directly within dynamic estate waterfalls—adjusting assumptions in real time and layering strategies without spreadsheets. In addition, the updated Single Entity Overview feature generates customizable visuals from trust and entity documents, to help present ownership, control, and beneficiary details to clients.

BlackCloak Launches Identity Verification to Combat Deepfake Threats: BlackCloak has introduced a new identity verification feature as part of its Digital Executive Protection platform, designed to combat deepfake and impersonation attacks targeting executives and high-net-worth individuals. The tool enables users to verify the authenticity of suspicious emails, calls, and videos directly through the BlackCloak mobile app, helping prevent fraud by confirming the sender’s identity. The feature will be available to all members—including individuals and families—starting June 2025. 
   👉 See latest from Luminary and BlackCloak at our Demo Day on 20 May

Elysys AppSource Launch: Elysys has released its Elysys Wealth App on Microsoft AppSource. This is a major step in increasing accessibility and scalability for their solution. The company plans to release a Multi-Company App for partnership accounting and an Analytics App to expand data visualization options. 
   👉 Hear from Elysys' MD, Max Wattel at the next Tech-NEW-logy on 6 May 

Xero Launches Integrated Bill Payments in the U.S. with BILL: Xero has launched a new integrated bill payment feature in the U.S. through a partnership with BILL, aimed at simplifying accounts payable for small businesses, improving efficiency and cash flow management. The feature includes built-in two-step verification for enhanced security and enables users to pay multiple bills directly within Xero, tap into BILL’s extensive network of 7.1 million vendors for faster payments, and monitor the status of transactions in real time. 

WealthArc + BlackRock Portfolio 360: WealthArc is now integrated with BlackRock’s Portfolio 360, offering advisors and family offices improved real-time portfolio and risk analytics. With a new button embedded in the WealthArc platform, users can instantly transfer portfolio holdings to BlackRock Portfolio 360 tool, powered by Aladdin.

Vanilla + Mariner Wealth Advisors: Vanilla continues to scale by entering a partnership with $560B AUM firm Mariner Wealth Advisors. The collaboration provides Mariner’s 700+ advisors with access to Vanilla’s platform to streamline client estate planning and reporting. 

Canoe + Ocorian: Canoe Intelligence has partnered with Jersey-based fund administrator Ocorian to automate and streamline data workflows for fund managers. The collaboration enhances document processing and data extraction capabilities across Ocorian’s global client base of 8,000.

BridgeFT + iCapital: BridgeFT and iCapital have partnered to launch a unified portfolio data management solution for wealth managers, combining iCapital’s alternative data service with BridgeFT’s API-first infrastructure. The solution is now part of BridgeFT’s WealthTech API Marketplace.

Chronograph Launches Tool to Automate Private Market Data Extraction: Chronograph has introduced a data capture tool to help private market investors automate the extraction of information from PDFs and other documents. The tool is designed for GPs.

SoftLedger Enhancements: SoftLedger said it has upgraded its bank reconciliation, automating key steps to give multi-entity users greater efficiency and faster month-end close.

Envestnet + Arch, Canoe: Envestnet has expanded its support for alternative investments by integrating with Canoe Intelligence and Arch, complementing its existing partnerships with iCapital and CAIS.

Leadership Moves

Masttro Hires Dan Kutner: Masttro has appointed Dan Kutner as its new Head of Sales for North America. Kutner, formerly EVP of Sales at wealth tech firm CircleBlack, will report directly to Masttro CEO Jay McNamara.

Ashby Foltz Joins Foundation Source as SVP of Product. Foltz brings a diverse background in management consulting, private equity, and early-stage tech leadership. He co-founded Vennfi, the fintech behind donor-advised fund platform Charityvest, which Foundation Source acquired in October 2024. 

Boosted.ai Appoints New CPO: Boosted.ai has named Christian Antaloczy as Chief Product Officer to strengthen its position in generative AI for investment management. Formerly with WhatsApp (Meta), LinkedIn, and Intuit, Antaloczy brings deep experience in fintech and product development. He will focus on expanding AI-driven automation for investment workflows, supporting Boosted.ai’s goal of scaling adoption across institutional teams.

1fs Wealth Appoints Former Deutsche Bank Executive to Advisory Role: Frank Krings, former CEO of Deutsche Bank Luxembourg and Western Europe, has joined 1fs Wealth as a strategic advisor. London-based 1fs Wealth offers an AI-powered platform for asset consolidation, risk management, and succession planning. In November 2024, the company announced a strategic partnership with Apex Group.

Henk Jan Kinds, former General Manager, EMEA at PCR, has joined Pretim, a Dutch wealth data infrastructure firm that also includes former PCR colleagues Willem Lam and Jannick Wondergem. Pretim provides data aggregation and reconciliation services to family offices, wealth managers, private banks, and fintechs across Europe.

Hiring Watch

A number of top platforms are actively hiring across product, engineering, and sales roles:

• Wealth.com – Open roles in engineering and security 
• Altvia – Hiring for business development
• Foundation Source – Roles in marketing and accounting
• d1g1t – Looking for a product owner
• Asseta.AI – Sales development role
• Pretim - Sales, data analysis and backend developer roles 
• Arch - Variety of roles 

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