Eton Solutions, which has built a wealth management platform for single- and multifamily offices, raised $58 million in Series C funding led by Navis Capital Partners, executive chairman Satyen Patel tells Axios exclusively.
Why it matters: The ultra-rich are moving to AI-powered tools that treat global wealth like an enterprise balance sheet.
How it works: Eton offers an all-in-one ERP as an alternative to cobbled-together software stacks typically used by wealth managers.
- It combines investment, accounting, capital, and investor books of record with CRM, document management, trust ledgers, and AI-native data extraction.
- The platform provides daily reconciliations and forward-looking projections, enabling detailed views into complex portfolios that span both liquid and illiquid assets.
- “You want a CFO’s perspective, not an accountant’s perspective, so you can plan for events that you otherwise wouldn’t know you could have acted upon if you had the information in time,” Patel says.
Flashback: Eton was spun out of a multifamily office after founder Rob Mallernee struggled to find software that could handle both liquid and illiquid portfolios under one roof.
- “There were single point solutions you would have to cobble together and somehow integrate them and make them work. And one, they were too expensive. And two, they weren’t functional,” Patel says.
Between the lines: To maintain full control over the client experience, Eton has built out in- house implementation and services teams, rather than relying on third-party partners.
- “If your implementation was not done right, or your services don’t work well, then you are always going to blame the product,” Patel says.
By the numbers: Over 850 families utilize Eton’s AtlasFive platform to manage $1 trillion in AUM and 2,000 funds.
- The system initiates $65 billion in annual bill payments and processes over 14 million transactions annually.
Zoom in: The $58 million Series C was raised in two tranches and led by repeat backer Navis Capital, whose APAC footprint aligns with Eton’s international growth strategy.
- “We operate in multiple currencies, multiple jurisdictions, and we really wanted to make sure that this platform became global,” Patel says.
What’s next: Eton is expanding into private equity and GP-backed funds, where Patel sees a 25 times larger total addressable market than in its traditional family office base.
- The company is also preparing to launch products aimed at wealth owners with $25 million to $50 million in assets, a segment often priced out of bespoke family-office infrastructure.
Editor’s note: This story has been corrected to say Eton’s platform manages $1 trillion in AUM (not $76 billion).
Publish Article By – Axios
