Fintech firm FeeX, which helps financial advisers manage clients’ retirement accounts and other held away assets, is rebranded as Pontera following a capital infusion.
The firm raised $80m from three recent funding rounds led by Lightspeed Venture Partners. The rounds were joined by Blumberg Capital, The Founders Kitchen, Hyperwise Ventures, Hanaco Ventures, and other individual investors.
Go deeper with GlobalData
The New York-headquartered firm enables financial advisers to manage held away accounts of their clients as part of their overall portfolio.
It is said to cater to financial advisers from all types of advisory practices, including single-person advisory firms and large financial institutions.
The company said its new name, which comes from the Latin word for ‘bridge’, is part of its strategic ambition to form a bridge between individuals and a better retirement.
Pontera aims to enable both registered investment adviser (RIA) and broker-dealer communities to improve clients’ retirement outcomes.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataPontera co-founder and CEO Yoav Zurel said: “There are tremendous benefits to advisor management of held away accounts, including 401(k)s. Third-party studies have found that a professionally managed 401(k) account can outperform a self-directed account by more than 3% annually, even after accounting for fees.”
The capital infusion comes as Pontera continues to gain traction across the wealth management space.
Last year, the firm integrated several technology partners, including Orion Advisor Solutions, and Advyzon, to better equip financial advisors better serve their clients.
Lightspeed Venture Partners partner Yoni Cheifetz said: “We saw early on how Pontera provides a critical service for financial advisors looking to better serve their clients.
“It’s not surprising that they have grown more than threefold in each of the past three years. We believe in the product, and more importantly we believe in the team that is making the growth happen.”
Speaking about the rebrand, Zurel said: “We are very proud of what we accomplished under the FeeX brand and wanted our new name to focus on the tremendous opportunity for advisors to help their clients realise a better retirement. As Pontera, we aspire to be the bridge to a better retirement for millions of Americans.”
