Addepar, a wealth management software startup founded by Palantir co-founder Joe Lonsdale, laid off approximately 20 employees in December 2022, representing about 3% of its workforce. The Mountain View-based fintech company, which employs around 800 people and was valued at $2.17 billion in 2021, described the cuts as part of normal adjustments for a growing business. While some senior executives recently departed, these exits were reportedly unrelated to the layoffs. Addepar continues to hire and serves major financial clients with $4 trillion in assets on its platform. The job reductions are modest compared to larger cuts at other fintech firms like Plaid and Coinbase around the same time.
