Fintech Firm Raises $80M, Changes Name

Pontera, formerly FeeX, lets advisors manage their clients’ held-away accounts, such as 401(k)s and 403(b)s.

A fintech company that lets financial advisors manage client retirement accounts and other held-away assets has raised $80 million and changed its name.

FeeX announced February 23 that it raised the money through three funding rounds led by Lightspeed Venture Partners over 18 months. The Founders Kitchen, Hanaco Ventures, Hyperwise Ventures, Blumberg Capital and individual investors also invested.

The company also changed its name to Pontera, which comes from the Latin “pont,” meaning “bridge,” it said.

Pontera allows advisors to securely and compliantly manage their clients’ held away accounts, such as 401(k)s and 403(b)s, as part of their overall portfolio.

“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,” said Pontera co-founder and CEO Yoav Zurel in a press release.

Pontera says it serves thousands of advisors from all kinds of advisory practices. The company is based in New York City.

In the past 12 months, the firm has partnered with Carson Group, Priority Financial Group, Dynamic Advisor Solutions and CoastalOne. It also announced integrations with Orion Advisor Solutions, Advyzon and others.

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