Sep 1, 2014

How Feex was Started ?

TAGS: ROBIN HOOD, FEES, FINANCIAL, INDUSTRY, STARTUP, IDEA, INFO, WIKI, ABOUT, 



How Feex was Started ?



FeeX is a free service that finds and helps you reduce fees in your IRA, 401(k), 403(b), brokerage and other investment-type accounts. But investment accounts are just the beginning.

Waze co-founder Uri Levine was once charged more than $230 in hidden fees on a credit card balance of only 33 cents. Outraged, he called customer service and after countless transfers and interminable waits, he managed to get these fees waived. But this wasn't enough for Uri. He wanted to help others fight back against the tyranny of excessive financial fees. And that's why he started FeeX.

WHAT BIG PROBLEM DOES FEEX SOLVE?

PROBLEM
Retirement fees in America could add up to anywhere from $30 billion to $60 billion total per year, but according to a 2011 AARP study, seven in 10 Americans are not aware of the fees charged to maintain their 401(k) accounts.
SOLUTION
Feex Founders found this as an opportunity and came out with a solution  by providing a feature "Fees Comparision meter" which allows users to compare with other users what fees they are paying. Based on the output users can either confront their current companies about lowering fees or switch to a different company.

FOUNDED
2012

FOUNDERS
Uri Levine  Chairman
Yoav Zurel  CEO
David Weisz   Vice President
Eyal Halahmi   CTO

INVESTORS
Blumberg Capital
Horizons Ventures




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