Pontera, formerly known as FeeX, has successfully secured $60 million in a fundraising round completed last month.
In brief:
- Investment firm ICONIQ Growth led the funding
- The company has raised a total of $160 million including the latest round of funding. It also counts Blumberg Capital and Lightspeed Venture Partners as backers
- The company is estimated to be valued at over $550 million after this recent raise
What does this mean?
FeeX started out as a company that enabled the comparison of commissions and management fees in pension funds. Its new name Pontera comes from the Latin “pont,” meaning “bridge,” and reflects the company’s aspirations to create a bridge between individuals and pension advisors. Under this new model Pontera has increased its workforce to 220 employees, 65% of which are based in Israel. Pontera's CEO Yoav Zurel oversees operations from New York. The recent funds will support hiring 50 additional employees in Israel, following the recruitment of 100 worldwide in the past year.
