Revolutionizing Digital Wealth Management: Our Investment in Masttro
We are currently at the precipice of the largest intergenerational transfer of wealth ever recorded, with over $6 trillion set to change hands in the United States alone. With younger, digitally savvy generations inheriting this wealth and taking over estates, they will expect enhanced digital communication and real-time transparency from their advisors and family offices. At the same time, family offices are broadening their investment strategies as access to alternative assets continues to improve, only adding to the complexity of portfolios and making it increasingly difficult to build a comprehensive view of a family’s balance sheet and derive actionable insights.
The combination of these trends has created what we believe is a window for true technological disruption, albeit an elusive one given the incredibly fragmented nature of the market — it’s widely recognized in the industry that when you’ve seen one family office, you’ve seen one family office. It’ll take the right mix of technology, go-to-market strategy, and team to capitalize on this opportunity.
This is why, today, we’re excited to announce that FTV Capital has led a $43 million growth equity investment in Masttro, a #wealthtech business providing best-of-breed software to family offices, wealth advisors and large financial institutions managing the wealth of high-net-worth and ultra-high-net-worth families. With this investment, Masttro will drive R&D for its wealth data aggregation and visualization platform, continue to expand into new markets, and service growing client demand at a pivotal moment in the industry’s history.
Nearly 15 years ago, founders Javier M Gutierrez and Domingo Viesca identified the need to address data, workflow and accounting pain points for complex estate structures and set out to build a solution. They knew that the difficulties they encountered firsthand while managing a three-generation family office were endemic to the industry. They also acknowledged that no single platform could be a panacea for all types of customers unless they narrowed in on the core of the issue — data aggregation.
Since Masttro gathers data directly through 530+ proprietary data feeds from custodians around the globe and via AI-based document extraction for 60k+ unique alternative investments, users can rely on the platform as an immutable source of truth for investment and portfolio analysis, reporting, and communication between stakeholders. Masttro’s aggregation capabilities and purpose-built data model enable its software to provide both large and small institutions with significant workflow efficiencies, greater visibility into complex wealth structures through an intuitive user interface, and ultimately the ability to scale.
When we first met Masttro’s CEO, Padman Perumal, over two years ago, he stressed the importance of building a platform that can be universally deployable across the market landscape and can generate meaningful ROI for the customer regardless of size and complexity. Fast forward to today and the team at Masttro has nearly tripled the business by doing exactly that. They are now serving hundreds of clients including single- and multi-family offices, RIAs, and financial institutions representing nearly 30 different countries and are further accelerating their growth with offices in New York (HQ), Zurich, Monterrey, Mexico City, and Santiago.
This investment represents a continuation of FTV’s thematic approach to the wealth and asset management landscape (with investments such as Docupace, Enfusion, InvestCloud, and True Potential, among others), allowing us to turn decades of experience into meaningful insights for companies like Masttro. FTV is committed to offering Masttro the best of our 25-year market experience, making strategic commercial introductions to members of our Global Partner Network®, and supporting the company’s development by leveraging our in-house operational FTV Propel® team.
Alongside my colleagues Brent Fierro and Kyle Griswold, I am thrilled to join Masttro’s board of directors and partner with Javier, Domingo, Padman, and the entire Masttro team to continue building the leading franchise in this space. Congratulations to the Masttro family — FTV could not be more excited to join you on a journey that will help define the future of this market.
- Think Forward