← Embedded Finance Index 2026

Addepar

“Can Addepar become the AI-ready data operating system for the entire global wealth management industry?”

Founded2009
HQNew York, NY, United States
FoundersJoe Lonsdale, Jason Mirra
Total raised$921.4M
Latest roundSeries D+ (multiple rounds)
IndustryVertical SaaS / Wealth Management
The story

Addepar was founded in 2009 to bring institutional-grade transparency to complex, multi-asset portfolios — a response to the 2008 financial crisis. It grew from a client-reporting tool for family offices and RIAs into a global data and AI platform for wealth management, private banks, and institutional allocators, now overseeing $9T+ in assets. Its recent strategic push is a re-platforming around ADX (Addepar Data Exchange) and native AI (Addison), positioning Addepar as the AI-ready data operating system for wealth. Addepar is not an embedded-finance company — it does not move money, issue cards, or hold deposits; its 'embedded' surface is data aggregation via Plaid and integrations with custodians and accounting general ledgers.

Last 12 months
2026-05
Product timeline
2009
Founded by Joe Lonsdale and Jason Mirra in the wake of the 2008 financial crisis to bring transparency to complex portfolios· founding
2014
Series C raise of $50M to accelerate growth of investment analysis and reporting platform· funding
2017
Series D of $140M as AUM on platform grew from $300B to $650B in 18 months· funding
2020
Launched alternatives marketplace to expand into private markets· pivot
2026
Launched Addepar Data Exchange (ADX) — new data foundation for AI-ready workflows· product
The stack
2 layers disclosed in Addepar’s embedded-finance stack
Open banking
Plaid
Accounting
in the full report
Accounting gap: minor
9 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.