What Pando does

Pando, Inc. is a Bozeman, Montana-based fintech company founded in 2023 that operates an open, broker-neutral network for alternative investing. The company's flagship Pando Platform is built on a cloud-native architecture with modern data infrastructure, open APIs, and AI-driven design, connecting three participant cohorts — wealth managers, asset managers, and broker-dealers — across deal discovery, transaction execution, post-transaction workflows, recordkeeping, and reporting. Pando is explicitly positioned as a fintech rather than a broker, and does not charge commissions, curate investment opportunities, or take proprietary positions, which the company frames as eliminating the conflicts of interest inherent in traditional placement-agent and broker-dealer models.

The platform's functional surface area includes AI-powered document data extraction from offering memoranda, subscription agreements, and financial statements; continuous compliance tracking against AML/KYC, PEP, and global sanctions watchlists (OFAC, UN, HMT, EU, DFAT); portfolio analysis for opportunities, risks, and rebalancing recommendations; and systematic monitoring of alternative-investment opportunities matched to client criteria. Pando integrates with major portfolio management, books-and-records, and operational systems, and emphasizes open APIs that allow interoperability with other AI-powered applications in the wealth-management ecosystem. The company does not disclose pricing tiers or transaction fees publicly, and markets its offering around ease of onboarding and minimal disruption to existing workflows.

Pando's go-to-market is enterprise-focused and direct: the company targets RIAs, family offices, asset managers, and broker-dealers through an enterprise field-sales motion, supported by a corporate website, LinkedIn presence, and direct email outreach for demos and partnership inquiries. Operating geography is currently North America, with the platform's distribution channels described as globally accessible via the web application. The company has 11–50 employees, does not disclose revenue or funding, and is led by co-founders Ralph Lafferty (CEO) and Elisabeth MacKnight (COO).

Name

Pando

Legal name

Pando, Inc.

Website

https://pandoalts.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Pando, Inc. is a Bozeman, Montana-based fintech founded in 2023 that operates a broker-neutral, commission-free open network for alternative investing. Its cloud-native platform with AI-driven workflows serves wealth managers, asset managers, and broker-dealers across deal discovery, execution, and post-transaction reporting.

Ownership category

akta.pro rank

Product category

Alternative Investment Platform

NAICS

Portfolio Management and Investment Advice (523940), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Investment Advice (6282), Services-Prepackaged Software (7372)

akta.pro primary industry

Alternatives & Multi-Asset Digital Wealth Platforms (PE/VC/Real Assets access) (FSAGAEAL)

akta.pro secondary industries

Digital Wealth Platforms for Advisors (TAMP/Advisor Tech) (FSAGAEAH), Equity Capital Introduction & Prime Services (FSACAFAK)

Keywords

• Alternative investing platform
• Wealth management technology
• Private market investments
• Investment network marketplace
• AI-powered compliance

Headquarters

HQ city

Bozeman

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Platform Network Services: Pando operates as a fintech platform providing an open network for alternative investing without charging commissions on transactions. The platform generates value by connecting participants in the alternative investing ecosystem and facilitating deal discovery, transaction execution, and post-transaction workflows.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Pando operates the Pando Platform, a cloud-native, open-network SaaS marketplace that connects the alternative investing ecosystem—wealth managers, asset managers, and broker-dealers—to streamline deal discovery, transaction execution, post-transaction workflows, recordkeeping, and reporting. The platform is broker-neutral (no commissions, no curation, no conflicts of interest) and offers AI-powered capabilities including document data extraction, compliance tracking, portfolio analysis, and opportunity monitoring, with open APIs for integration into existing wealth management workflows.

Product overview

Pando is a fintech platform providing an open network for alternative investing. The core offering is the Pando Platform, which connects the alternative investing ecosystem with a single, secure network that streamlines workflows from deal discovery and transaction execution to post-transaction events, recordkeeping and reporting. The platform targets three user segments: wealth managers (find, evaluate, invest in and track private market alternatives), asset managers (organize, publish and identify deal distribution partners), and broker-dealers (increase deal exposure and minimize customer acquisition costs). The platform features AI-powered capabilities including data extraction from documents, compliance tracking, portfolio analysis, and opportunity monitoring. Pando is explicitly positioned as a fintech rather than a broker, with no commissions, no curation of investment opportunities, and no conflicts of interest.

Differentiator

Problem solved

Functional benefit

Products and services

• Pando Platform

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Addepar: Addepar is an established wealth management technology platform serving large RIAs, family offices, and private banks with portfolio reporting, analytics, and data aggregation. Comparable as wealthtech infrastructure for advisors but a broader incumbent with portfolio reporting as the core rather than alts deal discovery.
• Orion Advisor Solutions: Orion provides wealth management software (portfolio accounting, CRM, performance reporting) to RIAs and broker-dealers. Comparable as serving the same RIA/broker-dealer customer base with workflow software, though broader in scope and not focused on alts distribution.
• Carta: Carta provides cap table management, equity administration, and increasingly private markets fund management and LP tracking tools. Comparable in serving the alternative investment ecosystem (sponsors, LPs, advisors) though from an admin/data layer rather than distribution/marketplace.
• SS&C (Adenza): SS&C Technologies (including the Adenza/Advent product line) provides large-scale software for asset managers, hedge funds, and wealth managers including alternatives operations. Comparable broad incumbent in alts operations and wealthtech, though serving large enterprises rather than the RIA mid-market Pando targets.

Direct peers

• Moonfare: Moonfare is a digital private markets platform enabling individual and advisor clients to access private equity and alts. Comparable end-market (alternative investments distribution), though more focused on European and individual investor segments.
• CAIS: CAIS operates an alternative investment marketplace for independent advisors and RIAs, providing access to private market funds. Highly comparable to Pando as a multi-sided alts distribution platform, though CAIS is more established and operates as a curated platform with capital introductions.
• YieldStreet: YieldStreet operates an online marketplace for alternative investments (private credit, real estate, etc.) with wealth manager and individual investor distribution. Comparable as an alts marketplace, though YieldStreet is more retail/HNW focused rather than RIA/Family Office.
• iCapital Network: iCapital is a leading fintech platform that provides advisors, RIAs, and family offices with access to alternative investments, with deep sponsor relationships and integrated subscription/AML workflows. Directly comparable end-market and customer base to Pando, though iCapital is far larger and more established.
• Juniper Square: Juniper Square provides investor CRM, fundraising, and reporting software for alternative investment sponsors, plus tools for LPs and advisors tracking alts. Comparable to Pando in targeting alts workflows but more focused on sponsor-side and LP reporting rather than deal discovery matching.

Emerging players

• Percentage Labs: Percentage Labs offers a private markets investment platform with analytics, benchmarking, and portfolio monitoring tools for advisors and family offices. Comparable as an emerging alts workflow platform serving the RIA/Family Office segment, but with more focus on portfolio analytics than deal discovery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pando-alts

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pando