Published on 8 September 2025
Hope you had a great summer! The news in the family office tech world slowed down over the past couple of months—and we tried to do the same. This edition highlights the main developments that did take place over the summer.
Before we jump to the news, here are our upcoming events:
📅 September 30, 1–2 PM ET — AI for Family Offices Series:
AI & Security for Decision Makers: Executive Briefing & Q&A
Led by Dr. Tania Neild and InfoGrate’s AI security specialists — trusted advisors to leading family offices — this session offers a clear, no-fluff briefing with live answers to your questions.
🎫 An attendance fee applies. Register by September 11 to secure early bird pricing (code: EARLYBIRD).
📅 November 18-19, 10 AM - 2PM ET – 3rd Annual FOTechHub Tech & Ops Conference 2025, our flagship event.
Join the leading virtual conference on technology and operations for family offices, hosted by FOTechHub — your trusted source for independent insight. The program delivers impartial perspectives from top voices and showcases key innovators driving family office technology. You’ll be part of an engaged, senior-level audience, with no sponsored content or pay-to-play “thought leadership” — just a clear, 100% focus on family office tech and operations.
🎫 Attendance is complimentary for family offices. Register.
Funding, M&A and Strategic Moves
Eton Solutions Secures $58M Series C
Eton Solutions closed a $58M Series C in two tranches led by Navis Capital Partners. The new funding will be used to accelerate AI-driven innovation on its AtlasFive® platform, fuel product expansion into private equity and funds as well as to extend offerings to UHNW individuals with $25M+ in assets. This has prompted some in our network to question whether Eton’s push into PE and funds could shift focus away from its core SFO and MFO client base. Today, Eton supports 800+ family offices across 15 countries managing over $1T in assets, covering 130,000 entities, 205,000 investments, $65B in annual bill payments, and 14M+ transactions. With 425 employees, the firm has invested $50M in AtlasFive, enabling more than 400 AI use cases.
In related news Eton partnered with Asas Capital to launch the Middle East’s first Family Office as a Service platform powered by AtlasFive.
iPaladin–Orca Patent Dispute Continues
The patent case between iPaladin and Orca remains ongoing after months of filings, venue disputes, and a failed mediation, as reported by Modus last week. iPaladin accuses Orca of copying its patented family office software and is seeking damages along with protection of its intellectual property. Orca has pushed back with dismissal motions and says it remains confident in its position as the case proceeds in Texas federal court.
Alkymi Raises Strategic Financing to Advance AI in Private Markets
Alkymi has raised strategic financing led by Cornerstone Investment Capital and Canaan Partners, with participation from SimCorp and Northwestern Mutual Future Ventures. The funding will accelerate AI-driven data workflow innovation for private markets, with former Nasdaq CEO Bob Greifeld joining the board. Alkymi’s platform is used by investment managers overseeing $20T+ AUM as well as family offices to automate data processes.
Xero to Acquire Melio in $3B Push into U.S. Market
Xero is making its largest-ever deal, acquiring B2B payments platform Melio for $2.5B in cash plus a $500M earn-out. The move embeds bill pay directly into Xero’s GL, accelerating its U.S. growth and transforming the ledger from recordkeeper to real-time financial operator. Analysts see it as a bid to rival Intuit and AI-native challengers like Digits and Light. Xero will integrate Melio’s payments features into its core platform, aiming to double U.S. revenue by 2028.
iCapital Raises $820M, Reaches $7.5B Valuation
iCapital has raised more than $820 million in its latest financing round, led by T. Rowe Price and SurgoCap Partners, with backing from State Street, Temasek, UBS, and BNY Mellon. The round pushes iCapital’s valuation above $7.5 billion. Profitable since 2019, the firm now services $945 billion in assets across alternatives, structured investments, and client reporting, and will use the new capital to accelerate acquisitions, technology investment, and global expansion.
iCapital has also tapped Sonali Basak, former Lead Global Finance Correspondent and Anchor at Bloomberg Television, as its new Chief Investment Strategist. She replaces Anastasia Amoroso.
Carlyle Acquires Intelliflo from Invesco for Up to $200M
Carlyle is acquiring adviser tech firm Intelliflo from Invesco for up to $200 million ($135M upfront + $65M in earn-outs), with the deal set to close in Q4 2025. Its U.S. division, including its portfolio rebalancing and trading platform RedBlack, will operate as a standalone company, while UK and Australian operations retain the Intelliflo brand.
Product Updates and Partnerships
Masttro Integrates with Arch for Real-Time Alternatives Data
Masttro has partnered with Arch to integrate real-time alternative investment data into its platform. The collaboration enables Masttro clients to view liquid and illiquid assets in a unified dashboard, supporting deeper portfolio insights and better reporting. Arch’s private markets infrastructure streamlines K-1 collection, capital call tracking, and data visualization, serving family offices and RIAs seeking improved alternatives transparency.
Copia Unveils Connect
Copia Wealth Studios has launched Connect, a flat-fee investor portal priced at $495/month, regardless of AuM. The platform features AI-powered document ingestion (capital calls, K-1s), automated waterfall calculations across unlimited share classes, workflow checks for investor communications, and self-service onboarding.
Canoe Launches AI Innovation Hub with Early Access Program
Canoe Intelligence has launched Canoe Labs, an innovation incubator offering clients early access to new AI tools for alternative investment workflows. Initial features include AI-powered fund document summarization and real-time translation, powered with Canoe’s proprietary technical architecture built over 12+ years of context-specific machine learning. Access will be granted selectively, with existing Canoe clients given priority.
Abbove Expands with New AI Co-Pilot and Deutsche Bank Partnership
Brussels-based wealthtech Abbove has launched Mia, an AI co-pilot that reviews estate documents, extracts key data, and structures client wealth information. In parallel, Deutsche Bank Belgium has partnered with Abbove to enhance its private banking services, marking a strategic step in Abbove's private banking growth in Europe. Abbove offers document storage, asset inventories, inheritance tax estimates, and family wealth mapping, supporting some 1,100 advisors and 37,000 families.
SS&C Unifies Wealth Platforms as Advisors Migrate from Morningstar Office
SS&C Technologies has unified its wealth management tools—including Black Diamond, Accord, Salentica, and family office services—into a single platform: SS&C Black Diamond Wealth Solutions. It now supports 800,000 users across 3,000+ firms managing $3.6 trillion in assets. The company also reported that over 400 firms have begun migrating from Morningstar Office, with nearly 100 fully transitioned and 250 more underway. While Black Diamond has emerged as a leading replacement—offering historical data conversion, Morningstar Direct integration, and strategic pricing—some advisors are choosing alternatives like Advyzon, Orion, and Tamarac based on cost and specific needs.
In related news, SS&C Technologies will acquire Calastone from Carlyle for £766m (US $1.03b), closing in Q4 2025. Calastone, linking 4,500+ institutions across 57 markets, will strengthen SS&C’s fund administration, automation, and investment connectivity.
Alpha FMC joins Addepar’s partner program as a Services Partner
Alpha FMC has joined Addepar’s partner program as a 'Services Partner'. The global consultancy will support Addepar clients with implementation and operational delivery, including platform configuration, data integration, reconciliation, reporting, and portfolio monitoring workflows. According to Alpha's note, the company trains its consultants to Addepar standards and can also provide ongoing managed services post-implementation, extending Addepar’s delivery capacity with independent expertise. Other 'Services partners' include Amplify and Mirador (now iCapital).
People Moves
Asseta AI has appointed Nathan Kotler as Head of Investments. Kotler joins from GenTrust, a $4.5B multi-family office, where he was Head of Trading. He previously worked at Bridgewater Associates and BNY, bringing investment and trading expertise. In his new role, Nathan will lead Asseta’s Investments solutions, as the company builds its suite of software and products for family offices.
Bridge, the AI-native platform streamlining private market investing, has appointed Alejandro Vollbrechthausen as Head of Product, joining from GenTrust where he was CTO, and added Vatsal Trivedi as its first Machine Learning Engineer, bringing experience from Dirac, Meta, and CharterUP.
K1x has appointed Sunil Bheda—who brings over two decades of experience in SaaS, compliance, and data platforms —as its new Chief Product Officer. He will lead strategy and innovation for K1x’s AI-powered tax automation platform. The company also added 11 tax-focused hires to deepen domain expertise and accelerate product development.
Asora has made two senior hires to support its growth: John Molesphini joins as Chief Revenue Officer, bringing experience from Nasdaq eVestment to drive expansion in the US family office market, while Tim Byrne has been appointed Chief Technology Officer to lead technology strategy and product development.
ARQA has appointed George Guidotti as Director of Enterprise Solutions, bringing 20+ years of wealth tech experience. He will lead enterprise strategy and work with product, implementation, and customer teams to drive adoption of ARQA’s AI-native infrastructure by RIAs, custodians, and aggregators.
Archway has named Megan Greer as its first President of Fund Administration. Greer brings over two decades of experience from Carta and Northern Trust and will oversee expansion of Archway’s fund admin services for family offices and alternative asset managers.
Dennis Mangalindan has joined Canoe Intelligence as Senior Director of Family Office Strategies & Accounting Sales, responsible for expanding their market share and driving commercial growth across the family office and institutional segments. A well-known figure in the industry, he previously spent over 14 years at SEI Archway in leadership roles focused on business development.
Barcelona-based wealth data platform Flanks has named ex-FNZ executive Sebastian Henrichs COO to drive expansion in Germany, Austria, Switzerland (the “DACH” region), and the UK. Founded in 2019, Flanks connects financial institutions with 400+ custodians, standardising client wealth data via its Aggregate and Lume modules to provide clean data for AI-driven wealth management.
BlackCloak has named Kerry Nagle COO, tasking her with enhancing client experience and supporting growth. She brings 20+ years’ leadership across Cybersecurity, MarTech, EdTech, and FinTech.
Foundation Source has promoted Erin Harrigan to Chief Financial Officer. Harrigan has played a key role in the firm’s transformation into a multi-solution philanthropic services provider and will now lead financial planning, risk management, and integration across recent acquisitions including PG Calc, Vennfi, Giving Place, and Pacific Foundation Services.