Since its founding in 2010, wealthtech company Masttro has pursued the lofty goal of delivering its clients a “100% view” of their assets and net worth. That is, Masttro users were to be given the ability to instantly track their portfolio in real time across multiple currencies, regions, and asset classes. The appeal of such a big-picture view is obvious, but such a 100% view has traditionally been incredibly difficult to deliver, as complex financial data is often only accessible through the traditional financial world’s network of unwieldy legacy software.
As of March 2023, Masttro will be much closer to achieving their mission: according to a press release by the company, Masttro has completed a $43 million round of fundraising that is expected to boost its tech capabilities while expanding into new markets. The fundraise was led by major fintech player FTV Capital as well as Citi Ventures.
Masttro leadership positioned the backing by FTV as the beginning of a partnership that will accelerate the company’s growth strategy. “FTV’s extensive knowledge and track record in the fintech ecosystem combined with the firm’s vast network of global relationships within the broader financial services space will nicely complement our capabilities,” said Masttro’s Chief Executive Officer, Padman Perumal, in a press release on the fundraise. Perumal went on to characterize Masttro’s mission as “the last frontier to achieve total transparency in wealth management.”