FeeX Raises $2.75M in Funding

feexFeeX, a NYC-based free service for people to save money on their retirement savings, raised $2.75m in funding.

The round was led by Collaborative Fund with participation from former chief executive officer of Citigroup Vikram S. Pandit and existing investors.

Founded in September 2012 by Yoav Zurel, David Weisz, Eyal Halahmi and Uri Levine, FeeX is a service that finds fees and helps users to reduce them within investment and retirement accounts like IRA, brokerage accounts, etc. Its algorithm uncovers advisory, investment and expense ratio fees and suggests alternative ways to save and reduce the cost of retirement.
In July, the company rolled out the 401k Rollover Center, which analyzes fees associated with a user’s inactive 401k accounts. Based on this analysis, the system tells the user whether they are better off keeping their investments where they are, rolling them over to a lower-cost IRA or rolling them into their new employer’s 401k.
FeeX is a Registered Investment Advisor with the SEC.

FinSMEs

08/09/2015

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