Altruist said on Thursday it had raised fresh capital in a funding round that gave the custodian for registered investment advisors (RIAs) a valuation of more than $1.5 billion.

A ltruist, which serves as a custodian to independent financial advisors, has raised $169 million in a new funding round that values the start-up at more than $1.5 billion.

Wealth management startup Altruist says it has raised $169 million, elevating its valuation to more than $1.5 billion.