FeeX has rebranded as Pontera but still has the same mission in mind.
The name Pontera was inspired by the Latin word “pont,” which means “bridge.” And that’s exactly what the company wants to do — build the bridge to a better retirement.
Pontera is a New York-based financial company that allows financial advisors to actively and securely manage clients’ retirement accounts and assets such as 401(k)s, 403(b)s, HSAs and so on. The company launched in 2012 and works with financial institutions, brokers, RIAs and others to empower people to better understand and navigate their retirement plans.
“We are very proud of what we accomplished under the FeeX brand and wanted our new name to focus on the tremendous opportunity for advisors to help their clients realize a better retirement,” Yoav Zurel, Pontera co-founder and CEO, said in a statement. “As Pontera, we aspire to be the bridge to a better retirement for millions of Americans.”
In addition to the rebrand, Pontera announced it raised $80 million across three funding rounds led by Lightspeed Venture Partners. Blumberg Capital, Hanaco Ventures, The Founders Kitchen, Hyperwise Ventures and other investors participated as well.
The funding round comes at a time of success and growth for the company. Last year, Pontera launched new partnerships and technology integrations to better allow financial advisors to provide holistic services. Partnerships formed with CoastalOne and Carson Group, while the tech integrations took place with platforms such as Panoramix and Advyzon.
“401(k) accounts have become a key component of the overall financial picture for many of the more than 40,000 families we serve,” Ron Carson, founder and CEO of Carson Group, said in a statement. “Our ability to securely and purposefully manage these assets through Pontera has been a game-changer for our clients and our advisors who serve them.”
Retirement savings and financial planning have also become more important in maintaining financial stability. According to the U.S. Bureau of Labor Statistics, only 16 percent of private workers have access to a pension.
Pontera will continue to find and provide better financial outcomes for its clients and advisors. The latest funding will allow the company to invest in both technology and people to keep up with its growth.
Zurel said the company plans to hire 150 more team members, with half in technology and half in client-facing roles. Pontera currently has multiple roles open across departments.
