FeeX, a personal finance Fintech Startup 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.
