Former Citi CEO Vikram Pandit Makes Another Fintech Bet, This Time in FeeX
- FeeX has closed $2.5 million in new funding in a round led by Collaborative Fund who included Vikram Pandit as an investor.
FeeX, a personal finance Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term that helps investors find ways to reduce fees in their retirement funds, has announced the closing of $2.75 million in new funds. The round was led by Collaborative Fund and included participation from existing investors. The funding comes after a larger Series B round of $6.5 million was raised in August of last year.
Announcing their new funding, FeeX also revealed that participating with the Collaborative Fund is Vikram Pandit, Former CEO of Citi. In their prepared comments, Yoav Zurel, CEO of FeeX stated: “It's my pleasure to welcome Vikram as an investor...We hope to draw on his extensive expertise as we continue to scale in the U.S. and expand to expose all types of hidden fees in retirement accounts, bank accounts, credit cards, insurance, life insurance and more."
For Pandit, the funding continues a string of investments that he has made in fintech firms since leaving Citi. His investments included participation in several newsworthy rounds including Coinbase’s record breaking $75 million funding in January which also featured the NYSE as an investor and Dataminr’s $130 million round in March.
Pandit’s inclusion as an investor is an interesting one for FeeX. Co-founded by Uri Levine, a Waze Co-founder who left the firm after it was acquired by Google, FeeX is among Levine’s portfolio of firms that he backs that are aiming to save consumers costs with their financial choices. By adding Pandit, he provides FeeX an experienced source within the US’s financial industry that could potentially expand the consumer finance products that they analyze expenses for.
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FeeX, a personal finance Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term that helps investors find ways to reduce fees in their retirement funds, has announced the closing of $2.75 million in new funds. The round was led by Collaborative Fund and included participation from existing investors. The funding comes after a larger Series B round of $6.5 million was raised in August of last year.
Announcing their new funding, FeeX also revealed that participating with the Collaborative Fund is Vikram Pandit, Former CEO of Citi. In their prepared comments, Yoav Zurel, CEO of FeeX stated: “It's my pleasure to welcome Vikram as an investor...We hope to draw on his extensive expertise as we continue to scale in the U.S. and expand to expose all types of hidden fees in retirement accounts, bank accounts, credit cards, insurance, life insurance and more."
For Pandit, the funding continues a string of investments that he has made in fintech firms since leaving Citi. His investments included participation in several newsworthy rounds including Coinbase’s record breaking $75 million funding in January which also featured the NYSE as an investor and Dataminr’s $130 million round in March.
Pandit’s inclusion as an investor is an interesting one for FeeX. Co-founded by Uri Levine, a Waze Co-founder who left the firm after it was acquired by Google, FeeX is among Levine’s portfolio of firms that he backs that are aiming to save consumers costs with their financial choices. By adding Pandit, he provides FeeX an experienced source within the US’s financial industry that could potentially expand the consumer finance products that they analyze expenses for.